Koninklijke Philips NV (PHG) Rating Lowered to Sell at Zacks Investment Research
Koninklijke Philips NV (NYSE:PHG) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released 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 shares of Koninklijke Philips NV from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.
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Shares of Koninklijke Philips NV (NYSE:PHG) traded up 0.79% on Tuesday, hitting $29.28. 523,014 shares of the stock were exchanged. The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 33.50 and a beta of 1.43. The stock’s 50-day moving average is $29.20 and its 200-day moving average is $27.28. Koninklijke Philips NV has a 1-year low of $23.00 and a 1-year high of $30.09.
Koninklijke Philips NV (NYSE:PHG) last issued its earnings results on Monday, July 25th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.20. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.91 billion. Koninklijke Philips NV had a net margin of 3.01% and a return on equity of 2.93%. Koninklijke Philips NV’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Analysts forecast that Koninklijke Philips NV will post $1.57 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Integrated Investment Consultants LLC increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Integrated Investment Consultants LLC now owns 4,068 shares of the company’s stock valued at $101,000 after buying an additional 134 shares in the last quarter. Walleye Trading LLC purchased a new stake in shares of Koninklijke Philips NV during the second quarter valued at approximately $101,000. Hanson & Doremus Investment Management increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Hanson & Doremus Investment Management now owns 4,539 shares of the company’s stock valued at $113,000 after buying an additional 149 shares in the last quarter. Atwood & Palmer Inc. increased its stake in shares of Koninklijke Philips NV by 3.4% in the second quarter. Atwood & Palmer Inc. now owns 6,516 shares of the company’s stock valued at $163,000 after buying an additional 217 shares in the last quarter. Finally, Capital Analysts LLC increased its stake in shares of Koninklijke Philips NV by 43.3% in the second quarter. Capital Analysts LLC now owns 3,958 shares of the company’s stock valued at $201,000 after buying an additional 1,195 shares in the last quarter. Institutional investors 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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