Medical devices drive Covidien’s Q3 surge

Shares of Covidien plc (NYSE:COV) rose more than 4 percent this morning after the company announced a third-quarter profit bump of 47.0 percent and a top-line boost of 14.1 percent.

Wall Street liked the 22 percent sales boost added by the Mansfield, Mass.-based health products maker’s workhorse medical device segment during the three months ended June 24, which powered the surge. Even better, Covidien bested both its own forecast and The Street’s expectations.


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