Koninklijke Philips NV (PHG) Raised to Hold at Zacks Investment Research
Koninklijke Philips NV (NYSE:PHG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Philips’ third-quarter 2016 earnings rose 17.7% on a year-over-year basis to €0.40 (45 cents). Improved operational performance and diligent cost saving programs drove the year-over-year earnings growth. Philips’ Healthcare segment has been showing impressive momentum and the company believes that increased spending on healthcare and fitness will act as a long-term growth driver. Also, Philips has implemented three comprehensive performance improvement and change-initiative programs which are proving conducive to its growth. However, lackluster growth prospects of the healthcare markets across the globe in the near term are expected to thwart the company’s growth. In addition, higher restructuring expenses and escalating taxes are proving to be a drag on the company’s financials. Also, foreign currency fluctuations can dampen its growth prospects.”
A number of other equities research analysts have also weighed in on the company. HSBC upgraded Koninklijke Philips NV from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Credit Suisse Group AG restated a “buy” rating and set a $30.00 price objective on shares of Koninklijke Philips NV in a research note on Monday, October 24th. Finally, TheStreet upgraded Koninklijke Philips NV from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Koninklijke Philips NV currently has an average rating of “Buy” and an average target price of $31.00.
Koninklijke Philips NV (NYSE:PHG) opened at 29.88 on Thursday. The firm has a market cap of $27.62 billion, a price-to-earnings ratio of 32.34 and a beta of 1.38. Koninklijke Philips NV has a 12-month low of $23.00 and a 12-month high of $30.61. The stock has a 50 day moving average price of $29.50 and a 200-day moving average price of $27.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Analysts LLC increased its stake in shares of Koninklijke Philips NV by 43.3% in the second quarter. Capital Analysts LLC now owns 3,958 shares of the company’s stock valued at $201,000 after buying an additional 1,195 shares during the period. Walleye Trading LLC bought a new stake in shares of Koninklijke Philips NV during the second quarter valued at about $101,000. Integrated Investment Consultants LLC increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Integrated Investment Consultants LLC now owns 4,068 shares of the company’s stock valued at $101,000 after buying an additional 134 shares during the period. Hanson & Doremus Investment Management increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Hanson & Doremus Investment Management now owns 4,539 shares of the company’s stock valued at $113,000 after buying an additional 149 shares during the period. Finally, Atwood & Palmer Inc. increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Atwood & Palmer Inc. now owns 6,516 shares of the company’s stock valued at $163,000 after buying an additional 217 shares during the period. 6.62% of the stock is currently owned by institutional investors.
About Koninklijke Philips NV
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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