3 Health Care Stocks Driving The Sector Higher

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 down 17 points (-0.1%) at 16,759 as of Monday, June 16, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,419 issues advancing vs. 1,541 declining with 179 unchanged.

The Health Care sector currently sits up 0.4% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Vertex Pharmaceuticals ( VRTX), down 8.0%, Medtronic ( MDT), down 2.7%, UnitedHealth Group ( UNH), down 0.9%, AbbVie ( ABBV), down 0.9% and Eli Lilly and ( LLY), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Covidien ( COV) is one of the companies pushing the Health Care sector higher today. As of noon trading, Covidien is up $13.93 (19.3%) to $85.95 on heavy volume. Thus far, 52.9 million shares of Covidien exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $85.53-$92.68 after having opened the day at $92.35 as compared to the previous trading day's close of $72.02.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $32.7 billion and is part of the health services industry. Shares are up 5.8% year-to-date as of the close of trading on Friday. Currently there are 15 analysts who 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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