Covidien Stock To Go Ex-dividend Tomorrow (COV)

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.

NEW YORK ( TheStreet) -- The ex-dividend date for Covidien (NYSE: COV) is tomorrow, October 9, 2012. Owners of shares as of market close today will be eligible for a dividend of 26 cents per share. At a price of $60.21 as of 9:30 a.m. ET, the dividend yield is 1.7%.

The average volume for Covidien has been 2.5 million shares per day over the past 30 days. Covidien has a market cap of $28.88 billion and is part of the health care sector and health services industry. Shares are up 33.7% year to date as of the close of trading on Friday.

Covidien Public Limited Company develops, manufactures, and sells healthcare products for use in clinical and home settings in the United States and internationally. The company has a P/E ratio of 15.5, equal to the average health services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Covidien as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Covidien Ratings Report.

See our dividend calendar or top-yielding stocks list.

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