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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (45942)12/13/2011 3:58:44 PM
From: E_K_S  Read Replies (2) of 78740
 
Covidien plc (COV)

My last Buy on COV was 11/1/2010 @ $38.42. Sold some shares 2/1/2100 @ $49.50 and closed out the position 7/12/2011 @ $52.51.

I am going to hold off to see if I can pick some shares up below $40.00/share. The two year weekly chart does show support in the $36.00-$42.00 range.

(Note: Info below from Schwab Research on their Web Site)

EPS Estimates: COV reported non-GAAP fourth quarter 2011 earnings of $1.08, meeting the consensus estimate of the 21 analysts covering the company. In the year leading up to the announcement, the consensus estimate had risen by $0.31. For the coming quarter, analysts estimate COV will earn $1.04 per share, an increase of 9.21% over the prior year first quarter results

First Quarter Earnings Announcement Expected: Earnings will tentatively be announced 01/31/2012. With 20 analysts covering COV, the consensus EPS estimate is $1.04, and the high and low estimates are $1.08 and $1.01, respectively.

2012 EST
Q1 $1.04
Q2 $1.04
Q3 $1.11
Q4 $1.11

Total: $4.30

@$42.31/share = Forward PE 9.84

@$40.00/share = Forward PE 9.30

So, COV is now in value range below 10 PE (if the analyst estimates are correct). So it may be worth a nibble at current prices.

This one is down the most on my Drug Company watch list but on small volume. PFE & LLY continue to move higher.

EKS
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