Zacks Research Upgrades Koninklijke Philips (NYSE:PHG) to Hold

Koninklijke Philips (NYSE:PHG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a research note on Wednesday, December 17th. They set a “sector perform” rating for the company. Weiss Ratings upgraded Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Wall Street Zen cut Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Sanford C. Bernstein upgraded Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Koninklijke Philips presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Down 0.5%

Shares of NYSE:PHG opened at $31.25 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $28.53 and a two-hundred day simple moving average of $28.00. Koninklijke Philips has a 12-month low of $21.48 and a 12-month high of $33.44. The stock has a market capitalization of $30.09 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 7.27 and a beta of 0.79.

Koninklijke Philips (NYSE:PHG) last issued 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 during the quarter, compared to the consensus estimate of $5.03 billion. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%. On average, research analysts anticipate that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

Several large investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new stake in shares of Koninklijke Philips in the third quarter worth $215,529,000. Brandes Investment Partners LP boosted its holdings in Koninklijke Philips by 54.3% in the 2nd quarter. Brandes Investment Partners LP now owns 1,530,918 shares of the technology company’s stock worth $36,712,000 after buying an additional 538,715 shares during the period. Investment Management Associates Inc. ADV purchased a new stake in Koninklijke Philips in the 2nd quarter worth $12,122,000. Morgan Stanley increased its stake in Koninklijke Philips by 11.0% in the 4th quarter. Morgan Stanley now owns 2,841,880 shares of the technology company’s stock worth $76,958,000 after buying an additional 282,661 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new position in shares of Koninklijke Philips in the third quarter valued at about $5,434,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

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.