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Covidien (COV) in Focus: Stock Falls 7%

Zacks Equity Research

Covidien plc (COV) saw a big move last session, as the company’s shares fell by 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $86.51 to $94.64 in the past one-month time frame.

The medical products company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (1 increase, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

COV currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.

Some better-ranked stocks in the same industry include ZELTIQ Aesthetics, Inc. (ZLTQ), Abaxis, Inc. (ABAX) and Alere Inc. (ALR). While ZELTIQ Aesthetics carries a Zacks Rank #1 (Strong Buy), Abaxis and Alere hold a Zacks Rank #2 (Buy).

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COVIDIEN PLC NEW (COV): Free Stock Analysis Report

ABAXIS CP (ABAX): Free Stock Analysis Report

ALERE INC (ALR): Free Stock Analysis Report

ZELTIQ AESTHETICS INC (ZLTQ): Free Stock Analysis Report


Zacks Investment Research