Covidien plc Price Target Increased to $95.00 by Analysts at Leerink Swann (COV)
Research analysts at Leerink Swann upped their price target on shares of Covidien plc (NYSE:COV) from $93.00 to $95.00 in a report released on Monday. The firm currently has a “market perform” rating on the stock. Leerink Swann’s price target would suggest a potential upside of 8.21% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Covidien plc from $71.00 to $95.00 in a research note on Monday. Separately, analysts at Jefferies Group raised their price target on shares of Covidien plc from $80.00 to $96.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Covidien plc in a research note on Wednesday, July 23rd. They now have a $93.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Covidien plc currently has a consensus rating of “Hold” and a consensus target price of $86.29.
Shares of Covidien plc (NYSE:COV) traded down 0.51% during mid-day trading on Monday, hitting $87.34. 1,877,534 shares of the company’s stock traded hands. Covidien plc has a 1-year low of $59.17 and a 1-year high of $92.68. The stock has a 50-day moving average of $87.02 and a 200-day moving average of $74.69. The company has a market cap of $39.379 billion and a P/E ratio of 26.48. Covidien plc also was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 2,952,384 shares, a decrease of 50.5% from the June 13th total of 5,966,358 shares. Based on an average daily volume of 14,916,803 shares, the short-interest ratio is presently 0.2 days. Currently, 0.7% of the company’s stock are short sold.
Covidien plc (NYSE:COV) last posted its quarterly earnings results on Friday, July 25th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.04. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company posted $0.91 earnings per share. Covidien plc’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that Covidien plc will post $4.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 19th. Stockholders of record on Tuesday, July 29th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, July 25th.
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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