Koninklijke Philips N.V. (NYSE:PHG) has been assigned an average rating of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.50.

PHG has been the subject of several research reports. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Tuesday, July 4th. Canaccord Genuity restated a “buy” rating and issued a $37.00 price target on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. Societe Generale downgraded shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Finally, Deutsche Bank AG downgraded shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th.

Several institutional investors have recently modified their holdings of PHG. Bank of Montreal Can increased its position in shares of Koninklijke Philips N.V. by 34.2% in the first quarter. Bank of Montreal Can now owns 41,742 shares of the technology company’s stock worth $1,341,000 after buying an additional 10,637 shares during the last quarter. Stevens Capital Management LP increased its position in shares of Koninklijke Philips N.V. by 4.5% in the first quarter. Stevens Capital Management LP now owns 48,923 shares of the technology company’s stock worth $1,571,000 after buying an additional 2,107 shares during the last quarter. Greenleaf Trust purchased a new position in shares of Koninklijke Philips N.V. during the first quarter worth approximately $261,000. Steadfast Capital Management LP purchased a new position in shares of Koninklijke Philips N.V. during the first quarter worth approximately $24,872,000. Finally, Huntington National Bank increased its position in shares of Koninklijke Philips N.V. by 13.9% in the first quarter. Huntington National Bank now owns 29,141 shares of the technology company’s stock worth $936,000 after buying an additional 3,546 shares during the last quarter. Hedge funds and other institutional investors own 7.02% of the company’s stock.

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Shares of Koninklijke Philips N.V. (PHG) traded down 0.5082% during mid-day trading on Friday, reaching $37.1801. The company’s stock had a trading volume of 429,148 shares. The stock has a 50 day moving average of $37.01 and a 200-day moving average of $33.98. Koninklijke Philips N.V. has a one year low of $27.96 and a one year high of $38.61. The stock has a market cap of $34.84 billion, a P/E ratio of 20.0216 and a beta of 1.34.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. Koninklijke Philips N.V. had a return on equity of 8.92% and a net margin of 6.39%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts expect that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.

Koninklijke Philips N.V. declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback shares. This buyback authorization permits the technology company to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

About Koninklijke Philips N.V.

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.

Analyst Recommendations for Koninklijke Philips N.V. (NYSE:PHG)

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