Shares of Covidien plc (NYSE:COV) are up nearly 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.
The Mansfield, Mass.-based medical products maker reported profits of $535 million, or $1.07 per diluted share, on sales of $2.93 billion for the three months ended June 24.
That’s compared with net income of $364 million, or 72 cents diluted EPS, on sales of $$2.56 billion during the same period last year.
Covidien said the strong results were driven by its workhorse medical device division, where the top line surged 22 percent, according to a press release.
