2. As of noon trading, Covidien ( COV) is down $0.43 (-0.8%) to $56.41 on light volume Thus far, 583,191 shares of Covidien exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $56.27-$56.78 after having opened the day at $56.78 as compared to the previous trading day's close of $56.84.

Covidien Public Limited Company develops, manufactures, and sells healthcare products for use in clinical and home settings in the United States and internationally. Covidien has a market cap of $26.9 billion and is part of the health services industry. The company has a P/E ratio of 14.5, below the S&P 500 P/E ratio of 17.7. Shares are up 26.1% year to date as of the close of trading on Tuesday. Currently there are 14 analysts that rate Covidien a buy, 1 analyst rates it a sell, and 1 rates it a hold.

TheStreet Ratings rates Covidien as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Covidien Ratings Report now.

Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade

If you liked this article you might like

Vertex Pharmaceuticals Could Be Headed Higher Once Again

Omeros Shares Lower After Completing Stock Offering, Juno Dips - Biotech Movers

10 High-Yielding Stocks to Own Ahead of a Surprising Late Summer Market Swoon

Vertex Pharmaceuticals: Looking East, West and to the Quants

Vertex Pharmaceuticals: Looking East, West and to the Quants