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Research analysts at Needham & Company LLC increased their price objective on shares of Covidien plc (NYSE:COV) from $77.00 to $80.00 in a report released on Friday, ARN reports. Needham & Company LLC’s target price points to a potential upside of 11.95% from the company’s current price.

COV has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. cut their price target on shares of Covidien plc from $83.00 to $81.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Covidien plc in a research note on Monday. They now have a $73.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Covidien plc in a research note on Tuesday, April 1st. They now have a $77.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $77.00.

In other Covidien plc news, VP Brian Douglas King sold 15,569 shares of Covidien plc stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $70.11, for a total transaction of $1,091,542.59. Following the completion of the transaction, the vice president now directly owns 37,173 shares in the company, valued at approximately $2,606,199. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Covidien plc (NYSE:COV) traded up 0.32% during mid-day trading on Friday, hitting $71.69. The stock had a trading volume of 1,873,064 shares. Covidien plc has a 52 week low of $53.0496 and a 52 week high of $73.77. The stock’s 50-day moving average is $70.87 and its 200-day moving average is $68.41. The company has a market cap of $32.314 billion and a P/E ratio of 20.45.

Covidien plc (NYSE:COV) last announced its earnings results on Friday, April 25th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.01. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Covidien plc will post $4.00 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, May 5th. Stockholders of record on Monday, April 7th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, April 3rd.

Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings.

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