Covidien PLC (COV): Today's Featured Health Care Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
(
) pushed the Health Care sector lower today making it today's featured Health Care laggard. The sector as a whole was unchanged today. By the end of trading, Covidien fell $4.41 (-6.6%) to $61.96 on heavy volume. Throughout the day, 13,972,302 shares of Covidien exchanged hands as compared to its average daily volume of 2,101,900 shares. The stock ranged in price between $61.51-$65.35 after having opened the day at $65.23 as compared to the previous trading day's close of $66.37. Other companies within the Health Care sector that declined today were:
(
), down 34.9%,
(
), down 12.2%,
(
), down 11.9% and
(
), down 7.9%.
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Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $31.3 billion and is part of the health services industry. The company has a P/E ratio of 16.9, below the S&P 500 P/E ratio of 17.7. Shares are up 14.9% year to date as of the close of trading on Thursday.
TheStreet Ratings rates Covidien as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
- You can view the full Covidien Ratings Report.
On the positive front,
Bacterin International Holdings
(
), down 17.1%,
(
), down 13.2%,
(
), down 13.2% and
(
), down 12.4% , were all gainers within the health care sector with
(
) being today's featured health care sector leader.
- Use our health care section to find sector-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health care sector could consider
Health Care Select Sector SPDR
(
) while those bearish on the health care sector could consider
ProShares Ultra Short Health Care
(
).
- Find other investment ideas from our top rated ETFs lists.
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