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Covidien plc
Former type
Subsidiary
Industry Medical equipment
Fate Merged with Medtronic
Founded 2007
Defunct 2015
Headquarters Dublin, Ireland
Area served
Worldwide
Key people
José E. Almeida (CEO) Bryan Hanson, EVP and President, Covidien Group
Products
Medical Devices
Surgical Supplies
Medical Supplies
Revenue Increase USD 10.7 Billion (2014)
Operating income
Increase USD 1.99 Billion (2014)
Net income
Increase USD 3.6 Billion (2014)
Total assets Increase USD 16 Billion (2008)
Total equity Increase USD 8 Billion (2008)
Number of employees
39,000 (2014)
Parent Medtronic
Website Covidien.com

Covidien plc was an Irish-headquartered global health care products company and manufacturer of medical devices and supplies. Covidien became an independent publicly traded company after being spun off from Tyco International in 2007. It was purchased by Medtronic in a transaction that closed in 2015.

Though formed as Covidien in 2007, Covidien traces its roots to 1903 when Henry P. Kendall took over a small textile mill in Walpole, Massachusetts, United States, that produced cotton batts, carpet linings and absorbent cotton. The company later developed health and hygienic products. A number of other medical device companies eventually came together with the Kendall Company to form the foundation for Covidien.

By 1994, Kendall had become one of the world’s largest manufacturers of disposable medical supplies, wound care dressings, bandaging, elastic support and other vascular compression products. It became the basis of the Tyco Healthcare business when it was acquired by the company that year, along with Classic Medical, Uni-Patch and Promeon.

In 1998, Tyco Healthcare acquired Sherwood, Davis & Geck, a manufacturer and distributor of disposable medical products, and United States Surgical Corporation (U.S. Surgical), which provided suture and auto suture devices, along with energy-based devices, through its Valleylab brand. And, in 2000, Tyco Healthcare added respiratory and monitoring products provider Nellcor Puritan Bennett through the acquisition of Mallinckrodt Inc.

In 2007, Covidien was formed when Tyco International spun off its health care business. Since that time, Covidien has made a number of acquisitions including VNUS Medical Technologies, Aspect Medical Systems, Somanetics, ev3, BÂRRX, Newport Medical Instruments, superDimension, Oridion Systems and Given Imaging. Offshoring and focus on Low Cost Countries (LCC) resulted in several plant closures in the USA particularly a few in upper New York state.

In 2011, José E. Almeida became the Chairman, CEO, and President.

By the end of 2014, Covidien was operating in more than 150 countries globally, with 39,000+ employees in over 70 countries.

In January 2014, Covidien acquires WEM Electronic Equipment, based in Ribeirão Preto.

In June 2014, Covidien agreed to be acquired by Medtronic for $42.9 billion.

Surgical solutions Covidien offers a range of products in this division – from advanced surgical technologies to general surgical products:

Vascular therapies Covidien’s Vascular Therapies division collaborates across three different disciplines: arterial, venous to neurovascular solutions:

Respiratory & monitoring solutions Products from this division cover a range disciplines: from ventilation and airway management to patient monitoring and homecare:

Medical supplies Products in this division are engineered to help prevent needle-stick injury, infection, cross-contamination and procedural errors, all while helping to create better patient outcomes:

Surgical solutions:

Vascular therapies:

Respiratory and monitoring solutions:

Medical supplies:

The company name stems from the Latin words: “Co” which stands for together and “vi” for life.

COVIDIEN CARES is Covidien’s global giving and community outreach program. Through this program, Covidien donates millions of dollars in health care products to support global health and humanitarian needs, medical missions and disaster relief.

Covidien collaborates with organizations in more than 30 countries that together reach millions of people in need. Annually, Covidien awards more than 350 grants to organizations that address the needs of local communities in which its employees live and work.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2015 2015-07-28 Future report Set alerts
Q2 2015 2015-04-26 Future report Set alerts
Q1 2015 2015-01-22 Future report Set alerts
Q4 2014 2014-11-05 1.15 1.13
Q3 2014 2014-07-25 1.04 0.67
Q2 2014 2014-04-25 0.96 0.97
Q1 2014 2014-01-24 1.00 0.87
Q4 2013 2013-11-08 0.91 0.79
Q3 2013 2013-08-01 0.91 0.85
Q2 2013 2013-04-26 0.93 0.80

Ratings

2014-11-06 Reiterated Rating Jefferies Group Buy $96.00 to $107.00
2014-10-21 Reiterated Rating Deutsche Bank Buy $85.44
2014-10-21 Reiterated Rating Deutsche Bank AG Buy $85.44
2014-10-03 Downgrade Morgan Stanley Overweight to Equal Weight
2014-07-28 Reiterated Rating Citigroup Inc. Buy $81.00 to $101.00
2014-07-28 Boost Price Target Leerink Swann Market Perform $93.00 to $95.00
2014-07-28 Boost Price Target RBC Capital $71.00 to $95.00
2014-07-28 Boost Price Target Jefferies Group Buy $80.00 to $96.00
2014-07-28 Boost Price Target Royal Bank Of Canada $71.00 to $95.00
2014-07-17 Downgrade Needham Buy to Hold
2014-07-17 Downgrade Needham & Company LLC Buy to Hold $80.00
2014-07-14 Downgrade Piper Jaffray Overweight to Neutral
2014-07-14 Downgrade Piper Jaffray Cos. Overweight to Neutral
2014-06-27 Downgrade BTIG Research Buy to Neutral
2014-06-27 Downgrade Raymond James Strong-Buy to Outperform $80.00 to $97.00
2014-06-24 Downgrade Leerink Swann Outperform to Market Perform
2014-06-23 Downgrade Leerink Swann Outperform to Market Perform
2014-06-18 Downgrade Barclays Overweight to Equal Weight $82.00 to $93.00
2014-06-17 Downgrade BMO Capital Markets Outperform to Market Perform $78.00 to $93.22
2014-06-16 Boost Price Target Brean Capital Buy $75.00 to $93.22
2014-06-16 Downgrade CRT Capital Buy to Fair Value $82.00 to $93.22
2014-06-16 Downgrade JMP Securities Outperform to Market Perform
2014-06-16 Downgrade Benchmark Co. Buy to Hold $82.00 to $93.00
2014-06-16 Downgrade William Blair Outperform to Market Perform $42.90
2014-05-28 Reiterated Rating Morgan Stanley Overweight $75.00 to $79.00
2014-05-02 Boost Price Target Needham & Company LLC $77.00 to $80.00
2014-04-28 Lower Price Target Citigroup Inc. Buy $83.00 to $81.00
2014-03-27 Boost Price Target JPMorgan Chase & Co. $74.00 to $79.00
2014-03-11 Initiated Coverage BTIG Research Buy
2014-03-06 Boost Price Target Barclays Overweight $77.00 to $82.00
2014-02-26 Initiated Coverage CRT Capital Buy $82.00
2014-01-27 Boost Price Target Deutsche Bank Buy $75.00 to $77.00
2014-01-27 Boost Price Target RBC Capital $70.00 to $71.00
2014-01-27 Boost Price Target Leerink Swann $78.00 to $80.00
2014-01-20 Boost Price Target Jefferies Group $74.00 to $80.00
2014-01-14 Reiterated RBC Capital Mkts Sector Perform $65 to $70
2014-01-14 Boost Price Target RBC Capital Sector Perform $65.00 to $70.00
2013-12-13 Initiated Coverage JMP Securities Outperform $76.00
2013-12-05 Boost Price Target Barclays Overweight $72.00 to $77.00
2013-12-05 Initiated Coverage Benchmark Co. Buy $82.00
2013-11-27 Boost Price Target Leerink Swann $76.00
2013-11-26 Reiterated Rating Needham & Company LLC Buy $74.00
2013-11-26 Boost Price Target Raymond James Hold $72.00 to $77.00
2013-11-11 Reiterated Needham Buy $69 to $74
2013-11-08 Reiterated Needham Buy $69 to $74
2013-11-08 Boost Price Target Needham & Company LLC Buy $69.00 to $74.00
2013-09-16 Reiterated Rating Needham & Company LLC Buy $69.00
2013-09-16 Lower Price Target Jefferies Group Buy $72.00 to $68.00
2013-09-04 Initiated Needham Hold $69
2013-07-01 Reiterated Deutsche Bank Buy $74 to $68
2013-05-29 Reiterated Mizuho Buy $70 to $76
2013-01-28 Reiterated Mizuho Buy $65 to $70
2014-11-06 Reiterated Rating Jefferies Group Buy $96.00 to $107.00
2014-10-21 Reiterated Rating Deutsche Bank Buy $85.44
2014-10-21 Reiterated Rating Deutsche Bank AG Buy $85.44
2014-10-03 Downgrade Morgan Stanley Overweight to Equal Weight
2014-07-28 Reiterated Rating Citigroup Inc. Buy $81.00 to $101.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

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