Covidien Reaches New 52-Week High (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) -- Covidien (NYSE: COV) hit a new 52-week high Thursday as it is currently trading at $67.72, above its previous 52-week high of $67.71 with 1.1 million shares traded as of 2:45 p.m. ET. Average volume has been 2.2 million shares over the past 30 days.

Covidien has a market cap of $31.88 billion and is part of the health care sector and health services industry. Shares are up 16.9% year to date as of the close of trading on Wednesday.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. The company has a P/E ratio of 17.2, 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 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. You can view the full Covidien Ratings Report.

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