Koninklijke Philips (NYSE:PHG) Rating Lowered to Hold at StockNews.com

Posted by Defense World Staff on Sep 10th, 2023

Koninklijke Philips (NYSE:PHG – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other equities research analysts have also weighed in on PHG. Citigroup boosted their price objective on shares of Koninklijke Philips to €19.00 ($20.43) in a report on Friday, July 7th. The Goldman Sachs Group began coverage on shares of Koninklijke Philips in a report on Wednesday, July 12th. They issued a “buy” rating for the company. Finally, TheStreet upgraded shares of Koninklijke Philips from a “d+” rating to a “c-” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.06.

Get Our Latest Stock Analysis on PHG

Koninklijke Philips Trading Down 2.4 %

Shares of Koninklijke Philips stock opened at $20.81 on Friday. Koninklijke Philips has a 1 year low of $11.75 and a 1 year high of $23.30. The firm has a market cap of $19.33 billion, a PE ratio of -8.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.69. The company has a 50 day simple moving average of $21.62 and a two-hundred day simple moving average of $19.86.

Koninklijke Philips (NYSE:PHG – Get Free Report) last announced its earnings results on Sunday, July 23rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Koninklijke Philips had a negative net margin of 10.84% and a positive return on equity of 7.95%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $0.15 earnings per share. Analysts expect that Koninklijke Philips will post 1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Fiduciary Management Inc. WI increased its stake in shares of Koninklijke Philips by 26.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 8,687,852 shares of the technology company’s stock worth $130,231,000 after buying an additional 1,832,561 shares during the period. FMR LLC increased its stake in shares of Koninklijke Philips by 11.3% in the first quarter. FMR LLC now owns 8,596,089 shares of the technology company’s stock worth $157,738,000 after buying an additional 873,175 shares during the period. Wellington Management Group LLP increased its stake in shares of Koninklijke Philips by 16.7% in the first quarter. Wellington Management Group LLP now owns 8,245,236 shares of the technology company’s stock worth $251,727,000 after buying an additional 1,178,744 shares during the period. BlackRock Inc. increased its stake in shares of Koninklijke Philips by 0.6% in the second quarter. BlackRock Inc. now owns 6,671,419 shares of the technology company’s stock worth $144,703,000 after buying an additional 37,942 shares during the period. Finally, Morgan Stanley increased its position in Koninklijke Philips by 9.9% during the 4th quarter. Morgan Stanley now owns 3,351,702 shares of the technology company’s stock valued at $50,242,000 after purchasing an additional 302,633 shares during the period. 6.64% of the stock is owned by hedge funds and other institutional investors.

About Koninklijke Philips

(Get Free Report)

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.