Covidien PLC (COV): Today's Featured Health Services Winner

Covidien ( COV) pushed the Health Services industry higher today making it today's featured health services winner. The industry as a whole closed the day up 0.8%. By the end of trading, Covidien rose $1.30 (2.2%) to $59.35 on light volume. Throughout the day, 1,561,798 shares of Covidien exchanged hands as compared to its average daily volume of 3,371,700 shares. The stock ranged in a price between $58.71-$59.38 after having opened the day at $58.80 as compared to the previous trading day's close of $58.05. Other companies within the Health Services industry that increased today were: Rockwell Medical ( RMTI), up 15.7%, Oculus Innovative ( OCLS), up 10.5%, Trius Therapeutics ( TSRX), up 9.6% and Arrhythmia Research Technology ( HRT), up 9.2%.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $27.3 billion and is part of the health care sector. Shares are up 0.5% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate Covidien a buy, no analysts rate 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 revenue growth, reasonable valuation levels, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Pingtan Marine Enterprise ( PME), down 69.2%, ERBA Diagnostics ( ERB), down 7.4%, Uroplasty ( UPI), down 6.8% and Mela ( MELA), down 5.9%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health services industry could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health services industry could consider ProShares Ultra Short Health Care ( RXD).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
null

If you liked this article you might like

Jim Cramer -- Deal Activity in Specialty Pharma Reaches a Frenzied Pace

Jim Cramer -- Deal Activity in Specialty Pharma Reaches a Frenzied Pace

Mallinckrodt Buys Ikaria in $2.3 Billion Hospital Treatment Deal

Mallinckrodt Buys Ikaria in $2.3 Billion Hospital Treatment Deal

Stryker and Smith & Nephew Are the Stars to Watch in Medtech's 2015 Merger Dance

Stryker and Smith & Nephew Are the Stars to Watch in Medtech's 2015 Merger Dance

Medtronic Avoids U.S. Taxes While Saddling Shareholders With a Hefty Tax Bill

Medtronic Avoids U.S. Taxes While Saddling Shareholders With a Hefty Tax Bill

Trim Positions in Stryker Ahead of Fourth-Quarter Earnings; Buy on Pullback

Trim Positions in Stryker Ahead of Fourth-Quarter Earnings; Buy on Pullback