Koninklijke Philips (NYSE:PHG) Stock Rating Lowered by Wall Street Zen

Key Points

• Koninklijke Philips has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a change in analyst sentiment.
• The company's earnings exceeded expectations with $0.41 EPS reported for the last quarter, surpassing the consensus estimate of $0.29.
• Institutional investors have been actively trading the stock, with notable increases in holdings reported by several firms, indicating potential confidence in the company's future performance.

Wall Street Zen downgraded shares of Koninklijke Philips (NYSE:PHG - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Koninklijke Philips Stock Up 0.9%

Shares of NYSE:PHG traded up $0.25 on Friday, reaching $26.71. The company had a trading volume of 860,196 shares, compared to its average volume of 1,011,542. The stock has a 50-day moving average price of $24.03 and a 200 day moving average price of $24.97. Koninklijke Philips has a twelve month low of $21.48 and a twelve month high of $32.91. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $25.71 billion, a P/E ratio of 140.55, a P/E/G ratio of 0.72 and a beta of 0.75.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.12. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, equities analysts expect that Koninklijke Philips will post 1.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHG. Fiduciary Management Inc. WI raised its position in Koninklijke Philips by 21.7% in the first quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company's stock worth $190,900,000 after purchasing an additional 1,339,055 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Koninklijke Philips by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after purchasing an additional 106,044 shares during the last quarter. Northern Trust Corp increased its stake in shares of Koninklijke Philips by 5.1% in the first quarter. Northern Trust Corp now owns 1,690,402 shares of the technology company's stock valued at $42,936,000 after buying an additional 81,653 shares in the last quarter. Causeway Capital Management LLC lifted its position in shares of Koninklijke Philips by 24.0% during the fourth quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company's stock worth $39,673,000 after purchasing an additional 303,428 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Koninklijke Philips by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,351,015 shares of the technology company's stock valued at $32,397,000 after purchasing an additional 32,663 shares in the last quarter. Institutional investors own 13.67% of the company's stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.