Covidien (NYSE:COV) has been one of the strongest large-cap med-tech stories over the past year or so. At a time when companies like Johnson & Johnson (NYSE:JNJ), Stryker (NYSE:SYK), Medtronic (NYSE:MDT), and Bard (NYSE:BCR) have been struggling to report much of any organic growth,
Covidien has been solidly in the mid-single digits as the company reaps
the benefit of past investments in R&D and product development.
Nothing lasts forever, though, and it looks like Covidien is lapping some challenging comparables.
What's more, the overall healthcare market remains pretty sluggish and
many of Covidien's rivals have stepped up their game with new product
introductions. The spin-off of Mallinckrodt could unlock some value, but it looks like the market is pretty well up to speed with Covidien's value.
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