Seeking Alpha

Benchmark tweaks estimates for Covidien

  • Benchmark is out reiterating a Buy rating on Covidien (COV +0.5%) .
  • "Previously, COV reported revenue in a number of categories under the major divisions of Medical Devices and Medical Supplies. Now, [the company] is reporting revenues in Surgical Solutions, Vascular Therapies, and Respiratory & Patient Care," analyst Jan Wald notes.
  • New estimates for 2014 and 2015: FY14 EPS of $3.98 on sales of $10.609B; FY15 EPS of $4.45 on revenue of $11.11B.
  • Price target is $82, representing upside of 20% from Monday's close.
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