Short Interest in Koninklijke Philips (NYSE:PHG) Grows By 22.8%

Koninklijke Philips (NYSE:PHG - Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 2,480,000 shares, a growth of 22.8% from the March 31st total of 2,020,000 shares. Based on an average daily trading volume, of 925,800 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.3% of the shares of the company are sold short.

Koninklijke Philips Price Performance

Shares of NYSE PHG traded up $0.19 during midday trading on Thursday, hitting $24.08. 1,098,101 shares of the company's stock were exchanged, compared to its average volume of 817,008. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The business's fifty day moving average price is $24.94 and its two-hundred day moving average price is $26.05. The company has a market cap of $22.63 billion, a price-to-earnings ratio of -28.66, a PEG ratio of 0.82 and a beta of 0.81. Koninklijke Philips has a 12-month low of $21.48 and a 12-month high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.13. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be issued a $0.886 dividend. This represents a dividend yield of 2.9%. The ex-dividend date is Tuesday, May 13th. Koninklijke Philips's payout ratio is currently -89.29%.

Analyst Upgrades and Downgrades

PHG has been the subject of a number of recent research reports. Sanford C. Bernstein upgraded shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 18th. StockNews.com upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. BNP Paribas raised Koninklijke Philips from a "neutral" rating to an "outperform" rating in a report on Tuesday, February 25th. Finally, UBS Group raised Koninklijke Philips from a "neutral" rating to a "buy" rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy".

Hedge Funds Weigh In On Koninklijke Philips

Several institutional investors have recently modified their holdings of PHG. Colonial Trust Co SC boosted its stake in Koninklijke Philips by 724.0% in the fourth quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company's stock worth $36,000 after buying an additional 1,238 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Koninklijke Philips by 2,935.4% in the 1st quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock valued at $51,000 after purchasing an additional 1,908 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Koninklijke Philips during the 3rd quarter valued at $54,000. Farther Finance Advisors LLC raised its position in Koninklijke Philips by 37.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock worth $54,000 after purchasing an additional 582 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Koninklijke Philips in the fourth quarter worth $55,000. 13.67% of the stock is currently owned by institutional investors.

About Koninklijke Philips

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.