Koninklijke Philips (PHG) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a buy rating in a research report released on Saturday morning.

A number of other brokerages also recently weighed in on PHG. Zacks Investment Research upgraded shares of Koninklijke Philips from a hold rating to a buy rating and set a $44.00 price objective for the company in a research report on Thursday, January 11th. Berenberg Bank upgraded shares of Koninklijke Philips from a hold rating to a buy rating in a research report on Monday, February 12th. One investment 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’s stock. Koninklijke Philips presently has an average rating of Hold and an average price target of $40.50.

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Shares of Koninklijke Philips stock opened at $38.35 on Friday. The stock has a market capitalization of $35,519.42, a price-to-earnings ratio of 29.05, a PEG ratio of 1.98 and a beta of 1.28. Koninklijke Philips has a fifty-two week low of $31.40 and a fifty-two week high of $42.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.47 and a quick ratio of 1.13.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.42 billion. Koninklijke Philips had a net margin of 8.68% and a return on equity of 6.93%. The company’s revenue was down 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. sell-side analysts predict that Koninklijke Philips will post 2.15 earnings per share for the current year.

The business also recently declared an annual dividend, which will be paid on Wednesday, June 6th. Investors of record on Tuesday, May 8th will be given a dividend of $0.9917 per share. This represents a dividend yield of 2.43%. The ex-dividend date is Monday, May 7th. This is an increase from Koninklijke Philips’s previous annual dividend of $0.86. Koninklijke Philips’s dividend payout ratio is 58.87%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA raised its position in shares of Koninklijke Philips by 12.7% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 14,033 shares of the technology company’s stock worth $578,000 after purchasing an additional 1,578 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Koninklijke Philips by 5.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 33,525 shares of the technology company’s stock worth $1,381,000 after purchasing an additional 1,665 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Koninklijke Philips by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,306 shares of the technology company’s stock worth $2,150,000 after purchasing an additional 1,692 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in shares of Koninklijke Philips by 4.0% during the 4th quarter. Gofen & Glossberg LLC IL now owns 45,997 shares of the technology company’s stock worth $1,739,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Koninklijke Philips by 45.9% during the 4th quarter. Advisor Group Inc. now owns 5,900 shares of the technology company’s stock worth $224,000 after purchasing an additional 1,855 shares during the last quarter. Hedge funds and other institutional investors own 6.77% of the company’s stock.

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About Koninklijke Philips

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

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Koninklijke Philips (NYSE:PHG)

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