Covidien plc (NYSE: COV) was downgraded by research analysts at Goldman Sachs (NYSE: GS) to a “neutral” rating in a report issued on Thursday.
Separately, analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Covidien plc from $63.00 to $57.00 in a research note to investors on Friday, December 16th. They now have an “overweight” rating on the stock.
Covidien Public Limited Company, formerly Covidien Ltd. is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. The Company operates its businesses through three segments: Medical Devices, Pharmaceuticals and Medical Supplies. Medical Devices includes the development, manufacture and sale of endomechanical instruments, soft tissue repair products, energy devices, oximetry and monitoring products, airway and ventilation products, products used in vascular therapies and other medical products. Pharmaceuticals include the development, manufacture and distribution of specialty pharmaceuticals, active pharmaceutical ingredients, contrast products and radiopharmaceuticals. In July 2010, its Medical Devices segment acquired ev3 Inc. In July 2010, its Medical Devices segment acquired Somanetics Corporation. In November 2009, its Medical Devices segment acquired Aspect Medical Systems, Inc.
Shares of Covidien plc opened at 46.17 on Thursday. Covidien plc has a 52 week low of $41.35 and a 52 week high of $57.65. The stock’s 50-day moving average is $44.59 and its 200-day moving average is $47.43. The company has a market cap of $22.274 billion and a price-to-earnings ratio of 12.28.