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RESULTS ROUND-UP: Covidien growing faster than JnJ; BCR, DGX

This article was originally published in Clinica

Executive Summary

Covidien, soon to be part of Medtronic, had a mixed third quarter with “light” organic sales growth, but an improvement in profitability, noted Morgan Stanley analyst David Lewis. The firm’s revenues climbed 4% to $2.69bn, but organic growth of 3% “modestly missed” Mr Lewis’s estimate of 4%. More positively, adjusted diluted earnings-per-share of $1.04 were 14% up over last year’s Q2, in line with the analyst’s (and company’s) previous prediction of double-digit EPS growth.

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