Short Interest in Covidien plc Expands By 84.5% (COV)
Covidien plc (NYSE:COV) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 4,958,375 shares, a growth of 84.5% from the July 15th total of 2,686,967 shares, ARN reports. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 5,915,966 shares, the short-interest ratio is presently 0.8 days.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Covidien plc in a research note on Monday, July 28th. They now have a $101.00 price target on the stock, up previously from $81.00. Separately, 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, July 28th. They now have a “market perform” rating on the stock. Finally, 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, July 28th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Covidien plc presently has a consensus rating of “Hold” and a consensus price target of $87.54.
Shares of Covidien plc (NYSE:COV) opened at 87.72 on Tuesday. Covidien plc has a one year low of $59.17 and a one year high of $92.68. The stock has a 50-day moving average of $88.21 and a 200-day moving average of $76.78. The company has a market cap of $39.628 billion and a P/E ratio of 26.28.
Covidien plc (NYSE:COV) last released its earnings data on Friday, July 25th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts expect that Covidien plc will post $4.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 19th. Investors 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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