Koninklijke Philips N.V. (NYSE:PHG) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Year to date, Philips’ shares have outperformed the Zacks categorized Electronic Product Miscellaneous industry’s average return. Philips has been generating strong profits, helped by a pick-up in sales, but the company sees increasingly uncertain business environment in the near future, particularly in the U.S. The company’s mature end markets seem weak, which could dampen overall growth. Also, Philips is under scrutiny from the FDA concerning a defibrillators dispute, which could impact its operations. Uncertainties like slowing government spending and events surrounding the ACA (Affordable Care Act) legislation are delaying hospitals’ capital spending, which could harm Philips’ operations. Also, prospects of the European healthcare market look muted. Philips’ near-term profitability is likely to be hurt by the sluggish growth prospects of the healthcare market on a global scale.”

A number of other analysts have also weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 target price on shares of Koninklijke Philips N.V. in a report on Monday, July 3rd. Natixis lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Deutsche Bank AG lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Societe Generale lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.67.

Shares of Koninklijke Philips N.V. (NYSE:PHG) traded up 0.629% on Tuesday, reaching $35.995. 1,011,498 shares of the company were exchanged. The firm has a 50 day moving average price of $35.89 and a 200-day moving average price of $32.32. The stock has a market capitalization of $33.13 billion, a PE ratio of 17.732 and a beta of 1.34. Koninklijke Philips N.V. has a 12-month low of $24.49 and a 12-month high of $38.21.

Koninklijke Philips N.V. (NYSE:PHG) last posted its earnings results on Monday, April 24th. The technology company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The business had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.70 billion. Koninklijke Philips N.V. had a net margin of 6.67% and a return on equity of 9.80%. Koninklijke Philips N.V.’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, analysts predict that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of PHG. YorkBridge Wealth Partners LLC bought a new position in shares of Koninklijke Philips N.V. during the first quarter worth approximately $122,000. Capital Analysts LLC raised its position in shares of Koninklijke Philips N.V. by 43.3% in the second quarter. Capital Analysts LLC now owns 3,958 shares of the technology company’s stock worth $201,000 after buying an additional 1,195 shares during the last quarter. Walleye Trading LLC bought a new position in shares of Koninklijke Philips N.V. during the second quarter worth approximately $101,000. Integrated Investment Consultants LLC raised its position in shares of Koninklijke Philips N.V. by 3.4% in the second quarter. Integrated Investment Consultants LLC now owns 4,068 shares of the technology company’s stock worth $101,000 after buying an additional 134 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Koninklijke Philips N.V. by 598.7% in the first quarter. IFP Advisors Inc now owns 4,297 shares of the technology company’s stock worth $123,000 after buying an additional 3,682 shares during the last quarter. 7.21% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips N.V. Company Profile

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

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