2. As of noon trading, Covidien ( COV) is down $0.40 (-0.6%) to $67.44 on light volume Thus far, 510,495 shares of Covidien exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $67.38-$67.93 after having opened the day at $67.71 as compared to the previous trading day's close of $67.84.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $32.0 billion and is part of the health services industry. The company has a P/E ratio of 17.3, below the S&P 500 P/E ratio of 17.7. Shares are up 17.5% year to date as of the close of trading on Thursday. 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.

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.

If you liked this article you might like

Healthcare Management Stocks Look Too Pricey for Activists

The Stock That Crashed 25% Overnight Has a Lesson to Teach Us: Market Recon