Koninklijke Philips NV (NYSE:PHG) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Over the past couple of quarters, Philips has repositioned itself as a healthcare company, fortifying its presence in the domain. Also, Philips has implemented three comprehensive performance improvement and change-initiative programs that are speeding up growth. However, Philips' near-term profitability is likely to be hurt by the sluggish growth prospects of the healthcare segment in key end markets, including the U.S., Europe and China. Also, higher restructuring expenses and escalating taxes are proving to be a drag on the company’s financials. Further, uncertainties relating to the Brexit referendum can also mar the company’s growth prospects. Additionally, a highly dynamic market, compliance risks pulling down on its financials and inability to protect intellectual property rights may pose as headwinds, jeopardizing growth prospects.”

Separately, TheStreet upgraded shares of Koninklijke Philips NV from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Koninklijke Philips NV currently has an average rating of “Hold” and an average target price of $32.00.

Analyst Recommendations for Koninklijke Philips NV (NYSE:PHG)

Koninklijke Philips NV (NYSE:PHG) last posted its earnings results on Monday, July 25th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.20. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.91 billion. Koninklijke Philips NV had a net margin of 3.01% and a return on equity of 2.93%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share.

Several large investors have recently modified their holdings of the company. Timber Hill LLC acquired a new stake in shares of Koninklijke Philips NV during the second quarter valued at about $415,000. Glenmede Trust Co. NA raised its stake in shares of Koninklijke Philips NV by 17.9% in the second quarter. Glenmede Trust Co. NA now owns 49,099 shares of the company’s stock valued at $1,224,000 after buying an additional 7,468 shares during the last quarter. Johnston Asset Management LLC raised its stake in shares of Koninklijke Philips NV by 1,536.6% in the second quarter. Johnston Asset Management LLC now owns 472,530 shares of the company’s stock valued at $11,785,000 after buying an additional 443,657 shares during the last quarter. Cambiar Investors LLC raised its stake in shares of Koninklijke Philips NV by 6.6% in the second quarter. Cambiar Investors LLC now owns 4,163,464 shares of the company’s stock valued at $103,837,000 after buying an additional 258,321 shares during the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Koninklijke Philips NV during the first quarter valued at about $365,000. Institutional investors and hedge funds own 6.62% of the company’s stock.

Koninklijke Philips NV Company Profile

Koninklijke Philips N.V. is a health and well-being company. The Company operates through three segments: Healthcare, Consumer Lifestyle and Lighting. Its Healthcare segment consists of imaging systems, healthcare informatics, services and solutions, patient care and monitoring solutions, and customer services.

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