Koninklijke Philips (NYSE:PHG) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Koninklijke Philips from “strong sell” to “hold,” while MarketBeat data shows the stock has an overall average rating of “Hold” from analysts.
• Philips shares opened at $27.30, down 0.3%, with a 52-week range of $23.85 to $33.44 and a market capitalization of approximately $26.84 billion.
• Institutional ownership stands at 13.67%, with several investment firms recently increasing their positions or initiating new stakes in the Dutch health-technology company.

Koninklijke Philips (NYSE:PHG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. UBS Group restated a "neutral" rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Koninklijke Philips presently has an average rating of "Hold".

Koninklijke Philips Trading Down 0.3%

Shares of NYSE PHG opened at $27.30 on Thursday. Koninklijke Philips has a fifty-two week low of $23.85 and a fifty-two week high of $33.44. The firm has a market capitalization of $26.84 billion, a P/E ratio of 20.12, a P/E/G ratio of 11.36 and a beta of 0.76. 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 company's 50 day simple moving average is $26.76 and its 200 day simple moving average is $27.75.

Institutional Investors Weigh In On Koninklijke Philips

Several institutional investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC raised its stake in shares of Koninklijke Philips by 923.7% in the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company's stock valued at $27,000 after purchasing an additional 896 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips during the third quarter worth about $27,000. CIBC Private Wealth Group LLC boosted its position in 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 worth $34,000 after acquiring an additional 817 shares during the last quarter. Navalign LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $54,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $56,000. 13.67% of the stock is owned by institutional investors.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source