Tyco, Medco: S&P Gainers
The S&P 500 fell 6.98 points, or 0.49%, to close at 1,405.54 on Wednesday.
Shares of Tyco International rose 4.26% to $55.81. The fire protection company announced Wednesday that its flow control division is merging with Pentair (PNR).
Tyco International's stock hit a 52-week high Wednesday of $56.66. The stock's 52-week low of $37.39 was set on Aug. 9.Tyco shares trade at an estimated price-to-earnings ratio for next year of 13.71X; the average for diversified industrials companies is 11.87X. Twelve of the 19 analysts who cover Tyco rate it at buy; seven analysts give the stock a hold rating. TheStreet Ratings gives Tyco an A grade with a buy rating and a $61.52 price target. The stock has risen 19.48% year to date.
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