Covidien plc Rating Reiterated by Citigroup Inc. (COV)
Covidien plc (NYSE:COV)‘s stock had its “buy” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $101.00 price objective on the stock, up from their previous price objective of $81.00. Citigroup Inc.’s price target points to a potential upside of 15.05% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann raised their price target on shares of Covidien plc from $93.00 to $95.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, 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. Finally, 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. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Covidien plc has an average rating of “Hold” and an average target price of $87.54.
Covidien plc (NYSE:COV) traded down 0.79% on Monday, hitting $87.10. The stock had a trading volume of 4,473,529 shares. 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 $39.271 billion and a P/E ratio of 26.48. Covidien plc also saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 2,952,384 shares, a drop of 50.5% from the June 13th total of 5,966,358 shares. Based on an average daily trading volume, of 14,916,803 shares, the short-interest ratio is presently 0.2 days. Approximately 0.7% of the shares of the stock are sold short.
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. 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 Tuesday, August 19th. Shareholders of record on Tuesday, July 29th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend 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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