Covidien CEO buys and sells 50,000 shares

Covidien chief executive José Almeida sold 50,000 shares in his company last Friday, worth $3.6 million at the time he sold them, the Ireland-based medical device maker has disclosed. The insider sale was part of a previously disclosed trading plan. On the same day, Almeida acquired 50,000 with a stock option priced at $39.32 per share. Shares in Covidien ($COV) are trading around $72 this morning, about the same price as their Friday close. Almeida still holds 51,166 shares in the company, according to the SEC filing.

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