Koninklijke Philips (NYSE:PHG) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Koninklijke Philips from hold to strong sell, though the overall analyst consensus remains Reduce.
• Philips shares were up 0.9% to $27.26; the stock sits below its 200-day moving average and trades within a 12-month range of $24.30 to $33.44.
• The company recently beat earnings expectations, reporting $0.27 EPS versus $0.24 expected and revenue of $4.52 billion, while analysts forecast $1.87 EPS for the full fiscal year.

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

Several other equities analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce".

Koninklijke Philips Stock Up 0.9%

Shares of NYSE:PHG opened at $27.26 on Wednesday. The firm has a 50 day simple moving average of $26.69 and a 200-day simple moving average of $28.08. Koninklijke Philips has a twelve month low of $24.30 and a twelve month high of $33.44. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $26.79 billion, a PE ratio of 23.36, a P/E/G ratio of 5.81 and a beta of 0.75.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.49 billion. On average, equities analysts predict that Koninklijke Philips will post 1.87 EPS for the current fiscal year.

Institutional Trading of Koninklijke Philips

Institutional investors and hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its stake in 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 during the period. Johnson Financial Group Inc. acquired a new stake in shares of Koninklijke Philips during the third quarter worth about $27,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Koninklijke Philips during the fourth quarter worth about $31,000. CIBC Private Wealth Group LLC grew 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 buying an additional 817 shares during the last quarter. Finally, Navalign LLC acquired a new position in Koninklijke Philips in the 4th quarter valued at about $54,000. 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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