Short Interest in Koninklijke Philips N.V. (NYSE:PHG) Grows By 55.9%

Koninklijke Philips N.V. (NYSE:PHG) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 2,882,419 shares, a growth of 55.9% from the July 15th total of 1,848,446 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 1,647,504 shares, the short-interest ratio is presently 1.7 days.

Koninklijke Philips Trading Down 1.6%

PHG stock opened at $26.85 on Tuesday. Koninklijke Philips has a one year low of $23.85 and a one year high of $33.44. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 11.32 and a beta of 0.76. The company has a fifty day moving average price of $26.78 and a two-hundred day moving average price of $27.72. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Monday, July 27th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.17. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.91 billion. Koninklijke Philips had a net margin of 6.30% and a return on equity of 14.38%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts anticipate that Koninklijke Philips will post 1.75 EPS for the current year.

Hedge Funds Weigh In On Koninklijke Philips

Several institutional investors and hedge funds have recently made changes to their positions in PHG. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips during the third quarter worth approximately $27,000. Whipplewood Advisors LLC boosted its stake in Koninklijke Philips by 923.7% in the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company’s stock valued at $27,000 after purchasing an additional 896 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Koninklijke Philips by 179.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company’s stock valued at $34,000 after purchasing an additional 817 shares during the period. Navalign LLC acquired a new position in Koninklijke Philips in the 4th quarter valued at $54,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Koninklijke Philips in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analyst Upgrades and Downgrades

PHG has been the subject of several recent analyst reports. Zacks Research upgraded shares of Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Wall Street Zen raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group restated a “neutral” rating on shares of Koninklijke Philips in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Koninklijke Philips has a consensus rating of “Hold”.

About Koninklijke Philips

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.