Insider Buying: Coleman N. Lannum III Purchases 1,736 Shares of Covidien plc Stock (COV)
Covidien plc (NYSE:COV) VP Coleman N. Lannum III purchased 1,736 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were purchased at an average cost of $87.46 per share, with a total value of $151,830.56. Following the completion of the purchase, the vice president now directly owns 13,605 shares in the company, valued at approximately $1,189,893. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Covidien plc has an average rating of “Hold” and a consensus target price of $87.54.
Shares of Covidien plc (NYSE:COV) traded down 0.30% on Wednesday, hitting $87.08. The stock had a trading volume of 1,813,096 shares. 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 $87.84 and a 200-day moving average of $77.70. The company has a market cap of $39.339 billion and a price-to-earnings ratio of 26.35.
Covidien plc (NYSE:COV) last released its earnings data on Friday, July 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Covidien plc will post $4.02 earnings per share 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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