Short Interest in Koninklijke Philips N.V. (NYSE:PHG) Declines By 13.4%

Koninklijke Philips N.V. (NYSE:PHG) saw a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 2,429,710 shares, a decline of 13.4% from the February 26th total of 2,806,886 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 918,921 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Koninklijke Philips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Zacks Research raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. Royal Bank Of Canada started coverage on shares of Koninklijke Philips in a research note on Wednesday, December 17th. They set a “sector perform” rating for the company. Finally, Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Koninklijke Philips Stock Performance

Koninklijke Philips stock traded up $0.13 during midday trading on Wednesday, reaching $27.53. The stock had a trading volume of 200,325 shares, compared to its average volume of 989,469. Koninklijke Philips has a 12 month low of $21.48 and a 12 month high of $33.44. The firm’s 50-day moving average price is $29.43 and its 200 day moving average price is $28.42. The firm has a market capitalization of $26.51 billion, a PE ratio of 25.96, a P/E/G ratio of 6.89 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

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

Koninklijke Philips Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $1.013 dividend. This is a boost from Koninklijke Philips’s previous annual dividend of $0.89. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a yield of 318.0%. Koninklijke Philips’s payout ratio is 81.13%.

Institutional Investors Weigh In On Koninklijke Philips

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips in the third quarter worth $27,000. Flagship Harbor Advisors LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $31,000. CIBC Private Wealth Group LLC raised its stake in shares of Koninklijke Philips by 179.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company’s stock valued at $34,000 after purchasing an additional 817 shares during the period. Navalign LLC purchased a new stake in Koninklijke Philips during the 4th quarter worth about $54,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Koninklijke Philips during the 4th quarter worth about $56,000. Institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

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.