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Covidien plc (NYSE:COV) was downgraded by research analysts at BMO Capital Markets to a “market perform” rating in a report released on Tuesday.

Covidien plc (NYSE:COV) opened at 86.75 on Tuesday. Covidien plc has a 52 week low of $53.0496 and a 52 week high of $92.68. The stock’s 50-day moving average is $72.39 and its 200-day moving average is $70.15. The company has a market cap of $39.113 billion and a price-to-earnings ratio of 20.61.

Covidien plc (NYSE:COV) last posted its quarterly earnings results 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. On average, analysts predict that Covidien plc will post $3.99 earnings per share for the current fiscal year.

A number of other firms have also recently commented on COV. Analysts at JMP Securities downgraded shares of Covidien plc from an “outperform” rating to a “market perform” rating in a research note on Monday. Separately, analysts at Benchmark Co. downgraded shares of Covidien plc from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $93.00 price target on the stock, up previously from $82.00. Finally, analysts at CRT Capital downgraded shares of Covidien plc from a “buy” rating to a “fair value” rating in a research note on Monday. They now have a $93.22 price target on the stock, up previously from $82.00. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $78.76.

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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