Needham Downgrades Covidien To Hold

Analysts at Needham downgraded Covidien plc COV from Buy to Hold and removed the price target of $80. Covidien shares have jumped 47.09% over the past 52 weeks, while the S&P 500 index has surged 17.89% in the same period. Covidien's shares fell 1.73% to close at $88.93 yesterday.