Koninklijke Philips N.V. (NYSE:PHG) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Koninklijke Philips, with all five covering brokerages issuing hold or neutral ratings. Zacks Research upgraded the stock from “strong sell” to “hold,” while UBS reiterated its neutral view.
• Several institutional investors increased their positions, including Royal Bank of Canada, Bank of America, Cetera Investment Advisers, and Tidal Investments. Institutional investors and hedge funds collectively own 13.67% of the company.
• Philips reported quarterly EPS of $0.57, beating the $0.40 consensus estimate, while revenue of $4.98 billion also exceeded expectations. However, revenue declined 3% year over year, and shares opened at $24.92, near their 12-month low.

Shares of Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) have earned a consensus recommendation of "Hold" from the five brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation.

Several research analysts recently weighed in on the stock. Zacks Research raised shares of Koninklijke Philips from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Finally, UBS Group reiterated a "neutral" rating on shares of Koninklijke Philips in a report on Monday, August 3rd.

Hedge Funds Weigh In On Koninklijke Philips

A number of hedge funds have recently made changes to their positions in PHG. Royal Bank of Canada boosted its holdings in shares of Koninklijke Philips by 13.1% in the 1st quarter. Royal Bank of Canada now owns 495,310 shares of the technology company's stock valued at $13,572,000 after buying an additional 57,514 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Koninklijke Philips by 7.7% in the 1st quarter. Bank of America Corp DE now owns 700,141 shares of the technology company's stock valued at $19,184,000 after purchasing an additional 50,124 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Koninklijke Philips by 116.9% in the first quarter. Cetera Investment Advisers now owns 85,288 shares of the technology company's stock valued at $2,337,000 after buying an additional 45,968 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Koninklijke Philips in the second quarter valued at about $1,160,000. Finally, Tidal Investments LLC lifted its stake in shares of Koninklijke Philips by 18.9% in the 2nd quarter. Tidal Investments LLC now owns 401,637 shares of the technology company's stock valued at $10,921,000 after purchasing an additional 63,868 shares during the period. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Stock Up 1.0%

Shares of NYSE PHG opened at $24.92 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82. The firm's 50-day moving average is $26.29 and its two-hundred day moving average is $26.91. Koninklijke Philips has a 12-month low of $23.85 and a 12-month high of $33.44. The company has a market capitalization of $24.49 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 10.24 and a beta of 0.76.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.17. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%.The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the previous year, the firm posted $0.27 EPS. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Koninklijke Philips will post 1.75 EPS for the current fiscal year.

About Koninklijke Philips

Koninklijke Philips N.V. is a Netherlands-based health technology company headquartered in Amsterdam. Founded in 1891 by Gerard Philips and his father, Frederik Philips, the company originally focused on electric light bulbs before expanding into consumer electronics and, later, health care technology.

Philips develops products and services across diagnostic imaging, image-guided therapy, patient monitoring, clinical informatics, and connected care. Its offerings include magnetic resonance imaging, computed tomography and ultrasound systems, hospital monitoring solutions, respiratory and sleep-care products, and software designed to support health care professionals and clinical workflows.

Through its Personal Health business, Philips also provides products such as electric toothbrushes, grooming devices, mother and child care products, and other wellness solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.