Koninklijke Philips (NYSE:PHG) Stock Rating Lowered by Zacks Research

Koninklijke Philips (NYSE:PHG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on PHG. Royal Bank Of Canada started coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. Weiss Ratings cut shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 2nd. Wall Street Zen cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Sunday, April 5th. Finally, Sanford C. Bernstein raised shares of Koninklijke Philips to a “hold” rating in a report on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Koninklijke Philips Stock Performance

Koninklijke Philips stock traded up $0.05 during trading hours on Monday, hitting $29.14. The company had a trading volume of 126,692 shares, compared to its average volume of 977,332. The firm has a market cap of $28.06 billion, a PE ratio of 27.49, a PEG ratio of 7.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 0.94. Koninklijke Philips has a one year low of $21.95 and a one year high of $33.44. The firm has a 50-day moving average of $29.15 and a 200 day moving average of $28.42.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.20. The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. On average, sell-side analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips during the third quarter worth approximately $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $31,000. CIBC Private Wealth Group LLC increased its holdings in shares of Koninklijke Philips by 179.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company’s stock worth $34,000 after purchasing an additional 817 shares during the period. Navalign LLC bought a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $54,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Koninklijke Philips during the fourth quarter worth approximately $56,000. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.