Covidien’s Q4 Earnings Fall, but Still Beat View (COV)

By Staff,

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Healthcare products maker Covidien plc ( COV ) on Friday said both its profit and revenue declined in its fiscal fourth quarter, although results were still enough to beat out analysts' expectations.

The Dublin, Ireland-based company reported fiscal fourth quarter net income of $461 million, or 95 cents per share, compared with $451 million, or 92 cents per share, in the year-ago period. Excluding special items, adjusted profit was $1.02 per share.

Revenue fell 2.5% from last year to $3 billion.

On average, Wall Street analysts expected a smaller profit of $1.00 per share, on lower revenue of $2.98 billion.

Covidien shares rose 94 cents, or +1.8%, in premarket trading Friday. The stock has climbed about 18.5% since the beginning of 2012.

The Bottom Line
Shares of Covidien plc ( COV ) have a 1.95% dividend yield, based on last night's closing stock price of $53.36. The stock has technical support in the $48-$51 price area. If the shares can firm up, we see overhead resistance around the $55-$57 price levels.

Covidien plc ( COV ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: COV

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