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Covidien – Company Information

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Covidien is a multinational healthcare products company that focuses on the development, production and marketing of medical devices and medical/surgical supplies.

It used to be part of Tyco International until it was spun off, in 2007, as an independent publicly traded company on the New York Stock Exchange – under the stock ticker symbol ‘COV’.

The company claims that it is “committed to creating innovative medical solutions for better patient outcomes and delivering value through clinical leadership and excellence”.

Covidien is comprised of two primary business segments:

Medical Devices – focuses on endomechanical instruments, energy devices, soft tissue repair products, vascular products, oximetry and monitoring products, airway and ventilation products and other medical products.

Medical Supplies – focuses on medical surgical products, nursing care products, original equipment manufacturer (OEM) products, and SharpSafety TM products.

Covidien has a team of approximately 38,000 employees across 70 countries, with 41 manufacturing facilities in 17 countries.

Overview

Covidien logo

  • Chairman, President and CEO: José E. Almeida
  • CFO: Charles J. Dockendorff
  • Type: Public
  • Industry: Medical Devices
  • Listed on the New York Stock Exchange (NYSE)
  • NYSE stock ticker symbol: COV
  • S&P 500 Component
  • Revenue: $10.235 billion USD (2013)
  • Net income: $1.700 billion USD (2013)
  • Diluted earnings per share: $3.61 USD (2013)
  • Employees: 38,500 (2013)
  • Corporate headquarters: 20 on Hatch, Lower Hatch Street, Dublin 2, Ireland
  • Corporate contact number: +353 1 438-1700
  • Investor relations contact number: +1 508-452-4343
  • Investor relations email address: [email protected].com
  • Website: http://www.covidien.com/

Operating data (in $ millions) 2013 2012
Net sales $10,235 $9,851
Cost of sales $4,150 $3,944
Gross profit $6,085 $5,907
Selling, general and administrative expenses $3,340 $3,261
Research and development expenses $508 $479
Operating income $2,132 $2,085
Income from continuing operations before income taxes $2,029 $1,919
Income from continuing operations $1,600 $1,637
Net income $1,700 $1,905
Comprehensive income $1,672 $1,792
Balance sheet data (in $ millions)
Total assets $19,918 $22,257
Total liabilities $10,676 $11,692
Total stockholders’ equity $9,242 $10,565
Cash flow data (in $ millions)
Net cash provided by operating activities $2,095 $2,425
Net cash used in investing activities $(722) $(1,678)
Net cash used in financing activities $(1,328) $(383)
Cash and cash equivalents at end of year $1,868 $1,866
Common share data (in $)
Basic earnings (loss) per common share $3.64 $3.96
Diluted earnings (loss) per common share $3.61 $3.92

Source: “Covidien 2013 FORM 10-K Annual Report”