Koninklijke Philips (NYSE:PHG) Cut to “Hold” at Wall Street Zen

Koninklijke Philips (NYSE:PHG) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

PHG has been the topic of several other research reports. Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings lowered shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Zacks Research raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Koninklijke Philips presently has an average rating of “Moderate Buy”.

Koninklijke Philips Stock Performance

Shares of PHG opened at $27.10 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The stock has a market cap of $26.09 billion, a P/E ratio of 25.57, a P/E/G ratio of 7.04 and a beta of 0.81. The business’s 50 day moving average price is $29.29 and its 200-day moving average price is $28.39. Koninklijke Philips has a 52 week low of $21.48 and a 52 week high of $33.44.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.03 billion. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%. Equities research analysts anticipate that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHG. Mondrian Investment Partners LTD acquired a new stake in shares of Koninklijke Philips during the third quarter worth $215,529,000. Morgan Stanley boosted its position in Koninklijke Philips by 11.0% in the fourth quarter. Morgan Stanley now owns 2,841,880 shares of the technology company’s stock valued at $76,958,000 after buying an additional 282,661 shares during the last quarter. Moore Capital Management LP acquired a new position in Koninklijke Philips in the 4th quarter worth approximately $5,727,000. Morningstar Investment Management LLC purchased a new position in Koninklijke Philips during the 3rd quarter worth approximately $5,434,000. Finally, Tower Research Capital LLC TRC raised its position in Koninklijke Philips by 435.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock worth $5,410,000 after buying an additional 183,444 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.