3 Stocks Dragging In The Health Services Industry

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Boston Scientific ( BSX) is down $0.12 (-1.0%) to $12.80 on light volume. Thus far, 4.1 million shares of Boston Scientific exchanged hands as compared to its average daily volume of 12.2 million shares. The stock has ranged in price between $12.78-$13.02 after having opened the day at $12.94 as compared to the previous trading day's close of $12.93.

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in three segments: Cardiovascular, Rhythm Management, and MedSurg. Boston Scientific has a market cap of $16.8 billion and is part of the health care sector. Shares are up 7.6% year-to-date as of the close of trading on Monday. Currently there are 11 analysts that rate Boston Scientific a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Boston Scientific as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, solid stock price performance and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Boston Scientific Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Medtronic ( MDT) is down $0.40 (-0.7%) to $60.60 on light volume. Thus far, 1.5 million shares of Medtronic exchanged hands as compared to its average daily volume of 4.6 million shares. The stock has ranged in price between $60.42-$61.18 after having opened the day at $61.02 as compared to the previous trading day's close of $60.99.

Medtronic, Inc. manufactures and sells device-based medical therapies worldwide. The company operates in two segments, Cardiac and Vascular Group, and Restorative Therapies Group. Medtronic has a market cap of $60.2 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 7 analysts that rate Medtronic a buy, no analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Medtronic 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, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Medtronic Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, 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).

null

More from Markets

Jim Cramer Just Spoke to Larry Kudlow About the China Trade Negotiations

Jim Cramer Just Spoke to Larry Kudlow About the China Trade Negotiations

Stocks Rise, Facebook Ignites a Nasdaq Rally

Stocks Rise, Facebook Ignites a Nasdaq Rally

Short Seller Chanos Slams Tesla's Musk, Accuses Him of 'Incinerating' Capital

Short Seller Chanos Slams Tesla's Musk, Accuses Him of 'Incinerating' Capital

AMD Shares Explode After Solid Q1, Robust Outlook That Defies Chip Sector Gloom

AMD Shares Explode After Solid Q1, Robust Outlook That Defies Chip Sector Gloom

Facebook Stock Set for Biggest Gain in Two Years After Q1 Earnings Top Forecasts

Facebook Stock Set for Biggest Gain in Two Years After Q1 Earnings Top Forecasts