3 Stocks Dragging In The Health Services Industry

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 24 points (0.1%) at 16,720 as of Tuesday, May 13, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,382 issues advancing vs. 1,595 declining with 161 unchanged.

The Health Services industry currently sits down 0.2% versus the S&P 500, which is unchanged. On the negative front, top decliners within the industry include Mindray Medical International ( MR), down 2.6%, Fresenius Medical Care AG & Co. KGaA ( FMS), down 1.8%, ResMed ( RMD), down 1.4% and Waters ( WAT), down 1.1%. A company within the industry that increased today was Abbott Laboratories ( ABT), up 1.0%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Covidien ( COV) is one of the companies pushing the Health Services industry lower today. As of noon trading, Covidien is down $0.38 (-0.5%) to $72.03 on light volume. Thus far, 601,835 shares of Covidien exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $71.93-$72.50 after having opened the day at $72.50 as compared to the previous trading day's close of $72.41.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $32.5 billion and is part of the health care sector. Shares are up 6.3% year-to-date as of the close of trading on Monday. Currently there are 15 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 growth in earnings per share, increase in net income, revenue growth, notable return on equity and reasonable valuation levels. 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.

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