Koninklijke Philips (NYSE:PHG) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Koninklijke Philips from a "strong-buy" to a "hold," and other firms including Weiss Ratings and Wall Street Zen have cut their ratings, leaving a MarketBeat consensus of "Hold."
• Philips beat quarterly estimates, reporting EPS of $0.70 versus $0.50 expected and revenue of $5.98 billion versus $5.03 billion estimated, with analysts forecasting $1.63 EPS for the year.
• The stock opened at $29.09 (up ~1.9%), with a market capitalization of $28.01 billion, a PE ratio of 27.44, and a 12‑month trading range of $21.95–$33.44.

Koninklijke Philips (NYSE:PHG - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on PHG. Weiss Ratings lowered Koninklijke Philips from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 2nd. Sanford C. Bernstein upgraded Koninklijke Philips to a "hold" rating in a report on Wednesday, December 17th. Royal Bank Of Canada assumed coverage on Koninklijke Philips in a report on Wednesday, December 17th. They issued a "sector perform" rating for the company. Finally, Wall Street Zen lowered Koninklijke Philips from a "buy" rating to a "hold" rating in a report on Sunday, April 5th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

Koninklijke Philips Stock Up 1.9%

Shares of Koninklijke Philips stock opened at $29.09 on Monday. The stock's fifty day moving average is $29.15 and its 200-day moving average is $28.42. The firm has a market capitalization of $28.01 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 7.41 and a beta of 0.81. 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 has a 12-month low of $21.95 and a 12-month high of $33.44.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.20. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.03 billion. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%. Equities analysts anticipate that Koninklijke Philips will post 1.63 earnings per share for the current year.

Institutional Trading of Koninklijke Philips

A number of hedge funds have recently modified their holdings of PHG. Johnson Financial Group Inc. purchased a new stake in shares of Koninklijke Philips in the third quarter valued at $27,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Koninklijke Philips in the fourth quarter valued at $31,000. CIBC Private Wealth Group LLC raised its holdings in shares of Koninklijke Philips by 179.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company's stock worth $34,000 after acquiring an additional 817 shares in the last quarter. Navalign LLC purchased a new stake in shares of Koninklijke Philips during the fourth quarter worth $54,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Koninklijke Philips during the fourth quarter worth $56,000. Hedge funds and other 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.

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