Skip to main content

NEW YORK (TheStreet) -- Covidien (COV)  stock is slipping on Friday, despite better-than-expected second-quarter results on its bottom line. 

Over the three months to March, the medical supplies distributor earned 96 cents a share, excluding one-time charges, a penny higher than analysts surveyed by Thomson Reuters forecast. 

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell' could potentially lose EVERYTHING in the next 6-12 months. Learn more.

Unadjusted net income of 97 cents a share was 5 cents higher than a year earlier and beat estimates by 2 cents. 

Revenue climbed 2.4% year over year to $2.59 billion. Analysts had expected $2.61 billion. 

Management reiterated full-year guidance of 2% to 5% revenue growth, assuming a range of $10.44 billion to $10.75 billion. Analysts expect 4.1% growth or total revenue of $10.65 billion. 

By late afternoon, shares were down 2.6% to $69.10.

Must read:Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months.Learn more.