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Covidien plc (NYSE:COV) shares hit a new 52-week high during trading on Friday , ARN reports. The stock traded as high as $73.80 and last traded at $73.73, with a volume of 359,380 shares. The stock had previously closed at $73.38.

Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Covidien plc in a research note on Wednesday, May 28th. They now have a $79.00 price target on the stock, up previously from $75.00. Separately, analysts at Needham & Company LLC raised their price target on shares of Covidien plc from $77.00 to $80.00 in a research note on Friday, May 2nd. Finally, 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, April 28th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Covidien plc currently has a consensus rating of “Buy” and an average target price of $77.53.

The stock has a 50-day moving average of $71.55 and a 200-day moving average of $69.74. The company has a market cap of $33.184 billion and a price-to-earnings ratio of 21.00.

Covidien plc (NYSE:COV) last released its earnings data on Friday, April 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Covidien plc will post $3.99 EPS for the current fiscal year.

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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