Koninklijke Philips (NYSE:PHG) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Koninklijke Philips from a "buy" to a "hold" rating, signaling reduced near-term enthusiasm from that research provider.
• Analyst coverage is mixed — there are 2 Buy, 3 Hold and 1 Sell ratings on the stock, and MarketBeat reports an average rating of Hold.
• Despite the downgrade, Philips beat quarterly expectations, reporting $0.70 EPS versus $0.50 expected and revenue of $5.98 billion versus $5.03 billion estimated.

Koninklijke Philips (NYSE:PHG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on PHG. Weiss Ratings raised shares of Koninklijke Philips from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, January 12th. Royal Bank Of Canada initiated coverage on Koninklijke Philips in a research report on Wednesday, December 17th. They issued a "sector perform" rating on the stock. Sanford C. Bernstein raised Koninklijke Philips to a "hold" rating in a research note on Wednesday, December 17th. Finally, Zacks Research downgraded shares of Koninklijke Philips from a "hold" rating to a "strong sell" rating in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Koninklijke Philips has an average rating of "Hold".

Koninklijke Philips Stock Down 0.5%

PHG opened at $31.25 on Friday. The business's fifty day moving average is $28.53 and its two-hundred day moving average is $28.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 1.32. The company has a market cap of $30.09 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 7.27 and a beta of 0.79. Koninklijke Philips has a one year low of $21.48 and a one year high of $33.44.

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

Hedge Funds Weigh In On Koninklijke Philips

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC boosted its holdings in shares of Koninklijke Philips by 3.7% in the 4th quarter. Lido Advisors LLC now owns 9,062 shares of the technology company's stock valued at $247,000 after purchasing an additional 323 shares during the last quarter. Rhumbline Advisers raised its position in shares of Koninklijke Philips by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,306 shares of the technology company's stock worth $703,000 after buying an additional 388 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Koninklijke Philips by 5.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,759 shares of the technology company's stock worth $210,000 after buying an additional 399 shares during the period. Franklin Resources Inc. boosted its holdings in Koninklijke Philips by 3.9% in the third quarter. Franklin Resources Inc. now owns 11,592 shares of the technology company's stock valued at $316,000 after acquiring an additional 439 shares during the last quarter. Finally, Kitching Partners LLC grew its position in Koninklijke Philips by 4.2% during the second quarter. Kitching Partners LLC now owns 11,259 shares of the technology company's stock valued at $270,000 after acquiring an additional 457 shares during the period. Institutional investors and hedge funds 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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