Covidien (NYSE: COV) is expected to report Q4 earnings on Nov. 9. 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 compress -3.2% and EPS will decrease -7.4%.

The average estimate for revenue is $2.98 billion. On the bottom line, the average EPS estimate is $1.00.

Revenue details
Last quarter, Covidien reported revenue of $3.01 billion. GAAP reported sales were 2.8% higher than the prior-year quarter's $2.93 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 $1.07. GAAP EPS of $0.93 for Q3 were 13% lower than the prior-year quarter's $1.07 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 58.0%, 90 basis points better than the prior-year quarter. Operating margin was 22.1%, about the same as the prior-year quarter. Net margin was 15.1%, 320 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $11.84 billion. The average EPS estimate is $4.25.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Covidien is buy, with an average price target of $63.22.

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