Koninklijke Philips NV (PHG) Downgraded by Zacks Investment Research
Koninklijke Philips NV (NYSE:PHG) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Over the past couple of quarters, Philips has repositioned itself as a healthcare company, fortifying its presence in the domain. Also, Philips has implemented three comprehensive performance improvement and change-initiative programs that are speeding up growth. However, Philips' near-term profitability is likely to be hurt by the sluggish growth prospects of the healthcare segment in key end markets, including the U.S., Europe and China. Also, higher restructuring expenses and escalating taxes are proving to be a drag on the company’s financials. Further, uncertainties relating to the Brexit referendum can also mar the company’s growth prospects. Additionally, a highly dynamic market, compliance risks pulling down on its financials and inability to protect intellectual property rights may pose as headwinds, jeopardizing growth prospects.”
Separately, TheStreet upgraded Koninklijke Philips NV from a “hold” rating to a “buy” rating in a research report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Koninklijke Philips NV has an average rating of “Hold” and a consensus price target of $32.00.
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Shares of Koninklijke Philips NV (NYSE:PHG) traded up 0.65% during midday trading on Tuesday, reaching $29.24. The company’s stock had a trading volume of 833,875 shares. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 33.46 and a beta of 1.43. The stock has a 50-day moving average of $29.20 and a 200 day moving average of $27.28. Koninklijke Philips NV has a 12 month low of $23.00 and a 12 month high of $30.09.
Koninklijke Philips NV (NYSE:PHG) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.91 billion. Koninklijke Philips NV had a return on equity of 2.93% and a net margin of 3.01%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, analysts predict that Koninklijke Philips NV will post $1.57 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Koninklijke Philips NV by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 421,439 shares of the company’s stock worth $12,032,000 after buying an additional 27,084 shares in the last quarter. M&T Bank Corp increased its stake in Koninklijke Philips NV by 2.9% in the first quarter. M&T Bank Corp now owns 105,540 shares of the company’s stock worth $3,013,000 after buying an additional 2,938 shares in the last quarter. BB&T Securities LLC increased its stake in Koninklijke Philips NV by 18.1% in the first quarter. BB&T Securities LLC now owns 27,552 shares of the company’s stock worth $786,000 after buying an additional 4,216 shares in the last quarter. UBS Group AG increased its stake in Koninklijke Philips NV by 43.7% in the first quarter. UBS Group AG now owns 430,751 shares of the company’s stock worth $12,298,000 after buying an additional 130,919 shares in the last quarter. Finally, HBK Investments L P bought a new stake in Koninklijke Philips NV during the first quarter worth approximately $365,000. Institutional investors and hedge funds own 6.62% of the company’s stock.
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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