Wall Street Zen Downgrades Koninklijke Philips (NYSE:PHG) to Hold

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

A number of other brokerages also recently weighed in on PHG. Royal Bank Of Canada began coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They set a “sector perform” rating on the stock. Zacks Research downgraded shares of Koninklijke Philips from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Finally, Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Koninklijke Philips Price Performance

NYSE:PHG opened at $31.25 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.32. The stock’s 50-day simple moving average is $28.53 and its 200 day simple moving average is $28.01. The company has a market cap of $30.09 billion, a P/E ratio of 29.48, a P/E/G ratio of 6.59 and a beta of 0.79. 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 results 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. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%.The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.03 billion. As a group, sell-side analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Koninklijke Philips

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Koninklijke Philips by 1.3% in the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock valued at $6,854,000 after purchasing an additional 3,540 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Koninklijke Philips by 60.8% during the first quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock worth $432,000 after buying an additional 6,429 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Koninklijke Philips by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock valued at $21,495,000 after acquiring an additional 12,908 shares during the period. Jane Street Group LLC grew its stake in shares of Koninklijke Philips by 125.8% in the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after acquiring an additional 57,952 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Koninklijke Philips during the second quarter worth about $289,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

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.