Koninklijke Philips N.V. (NYSE:PHG) Short Interest Update

Key Points

• Short interest surged 55.9% in July to 2.88 million shares, representing 0.3% of Philips’ outstanding shares and 1.7 days of average trading volume.
• Analysts remain generally cautious, with five firms rating the stock “Hold” and MarketBeat reporting an overall average Hold rating, despite one recent upgrade to Buy.
• Philips beat quarterly expectations with earnings per share of $0.57 versus the $0.40 consensus and revenue of $4.98 billion, although revenue declined 3% year over year.

Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 2,882,419 shares, an increase of 55.9% from the July 15th total of 1,848,446 shares. Currently, 0.3% of the company's shares are sold short. Based on an average daily trading volume, of 1,647,504 shares, the short-interest ratio is presently 1.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC raised its stake in shares of Koninklijke Philips by 923.7% during the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company's stock worth $27,000 after purchasing an additional 896 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $27,000. CIBC Private Wealth Group LLC grew its stake in shares of Koninklijke Philips by 179.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company's stock valued at $34,000 after buying an additional 817 shares in the last quarter. Navalign LLC bought a new position in shares of Koninklijke Philips in the fourth quarter valued at $54,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Koninklijke Philips during the fourth quarter worth $56,000. 13.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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. UBS Group reiterated a "neutral" rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Zacks Research raised Koninklijke Philips from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Koninklijke Philips Price Performance

Shares of PHG opened at $26.85 on Tuesday. The company has a 50 day moving average of $26.78 and a 200-day moving average of $27.72. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.55. Koninklijke Philips has a twelve month low of $23.85 and a twelve month high of $33.44. The stock has a market capitalization of $26.39 billion, a P/E ratio of 19.79, a P/E/G ratio of 11.32 and a beta of 0.76.

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

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.

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