Short Interest in Koninklijke Philips N.V. (NYSE:PHG) Decreases By 32.3%

Key Points

• Short interest in Koninklijke Philips N.V. decreased by 32.3%, dropping from 3,650,000 shares to 2,470,000 shares as of August 31st, indicating a significant reduction in bearish sentiment toward the stock.
• A variety of institutional investors have made notable changes to their holdings in Koninklijke Philips, with some increasing their stakes by over 1,170%.
• Wall Street analysts have mixed views on the company, with ratings ranging from "Strong Buy" to "Hold", although the overall consensus remains a "Buy."

Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 2,470,000 shares, a drop of 32.3% from the August 15th total of 3,650,000 shares. Based on an average daily volume of 982,800 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 982,800 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Koninklijke Philips

A number of institutional investors have recently modified their holdings of PHG. AlphaCore Capital LLC purchased a new stake in shares of Koninklijke Philips in the second quarter valued at approximately $41,000. Bessemer Group Inc. raised its holdings in Koninklijke Philips by 2,935.4% during the first quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock worth $51,000 after purchasing an additional 1,908 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in Koninklijke Philips by 39.1% during the second quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company's stock worth $51,000 after purchasing an additional 592 shares during the last quarter. MAI Capital Management raised its holdings in Koninklijke Philips by 167.7% during the second quarter. MAI Capital Management now owns 2,380 shares of the technology company's stock worth $57,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Koninklijke Philips by 1,170.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,439 shares of the technology company's stock worth $62,000 after purchasing an additional 2,247 shares during the last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy".

Koninklijke Philips Stock Down 0.2%

Koninklijke Philips stock opened at $28.15 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81. Koninklijke Philips has a 1-year low of $21.48 and a 1-year high of $32.91. The company has a market cap of $27.11 billion, a PE ratio of 148.16, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. The stock's 50 day moving average price is $26.62 and its 200 day moving average price is $25.09.

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

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.

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