Koninklijke Philips (PHG) Upgraded to “Buy” by Berenberg Bank
Koninklijke Philips (NYSE:PHG) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports.
Several other brokerages have also recently issued reports on PHG. Citigroup reissued a “buy” rating on shares of Koninklijke Philips in a report on Tuesday, October 24th. BNP Paribas cut Koninklijke Philips from an “outperform” rating to a “neutral” rating in a report on Monday, October 16th. Zacks Investment Research cut Koninklijke Philips from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, JPMorgan Chase & Co. cut Koninklijke Philips from an “overweight” rating to a “neutral” rating in a report on Thursday, November 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.50.
Koninklijke Philips (PHG) opened at $37.13 on Monday. The stock has a market capitalization of $34,850.00, a PE ratio of 31.20, a PEG ratio of 1.89 and a beta of 1.30. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.34. Koninklijke Philips has a fifty-two week low of $28.89 and a fifty-two week high of $42.35.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in Koninklijke Philips in the 3rd quarter worth about $111,000. Icon Wealth Partners LLC acquired a new position in Koninklijke Philips in the 4th quarter worth about $128,000. Whittier Trust Co. raised its holdings in Koninklijke Philips by 243.7% in the 3rd quarter. Whittier Trust Co. now owns 4,781 shares of the technology company’s stock worth $197,000 after purchasing an additional 3,390 shares during the period. Park National Corp OH acquired a new position in Koninklijke Philips in the 3rd quarter worth about $201,000. Finally, Creative Planning acquired a new position in Koninklijke Philips in the 4th quarter worth about $204,000. 6.39% of the stock is owned by institutional investors.
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Koninklijke Philips Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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