Covidien (NYSE: COV) is expected to report Q2 earnings on April 26. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Covidien's revenues will grow 5.7% and EPS will expand 3.8%.

The average estimate for revenue is $3.12 billion. On the bottom line, the average EPS estimate is $1.09.

Revenue details
 Last quarter, Covidien logged revenue of $3.06 billion. GAAP reported sales were 5.5% higher than the prior-year quarter's $2.90 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.10. GAAP EPS of $1.03 for Q1 were 1.0% higher than the prior-year quarter's $1.02 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 57.5%, 130 basis points worse than the prior-year quarter. Operating margin was 21.8%, 240 basis points worse than the prior-year quarter. Net margin was 16.1%, 90 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $12.57 billion. The average EPS estimate is $4.49.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Covidien is outperform, with an average price target of $64.74.

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