2. As of noon trading, Covidien ( COV) is up $0.88 (1.3%) to $66.38 on average volume Thus far, 1.5 million shares of Covidien exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $65.30-$66.58 after having opened the day at $65.36 as compared to the previous trading day's close of $65.50.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $30.6 billion and is part of the health services industry. The company has a P/E ratio of 16.5, below the S&P 500 P/E ratio of 17.7. Shares are up 12.2% year to date as of the close of trading on Wednesday. Currently there are 14 analysts that rate Covidien a buy, 1 analyst rates it a sell, and 2 rate 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, revenue growth, 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. Get the full Covidien Ratings Report now.

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