Koninklijke Philips N.V. (NYSE:PHG) Short Interest Update

Key Points

• Short interest in Koninklijke Philips N.V. rose by 47.8% in August, totaling 3,650,000 shares, indicating a significant increase in bearish sentiment among investors.
• Wall Street Zen downgraded Koninklijke Philips from a "buy" rating to a "hold" rating, affecting overall market perception, despite one analyst still rating it a Strong Buy.
• Several institutional investors significantly increased their stakes in Koninklijke Philips, with some showing growth rates over 700% in their positions, indicating renewed investor interest.

Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 3,650,000 shares, an increase of 47.8% from the July 31st total of 2,470,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 3.4 days. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 3.4 days.

Hedge Funds Weigh In On Koninklijke Philips

Institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC increased its position in Koninklijke Philips by 724.0% during 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 during the last quarter. AlphaCore Capital LLC acquired a new position in Koninklijke Philips during the second quarter worth approximately $41,000. Bessemer Group Inc. increased its position 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 buying an additional 1,908 shares during the last quarter. Whipplewood Advisors LLC increased its position 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 buying an additional 592 shares during the last quarter. Finally, MAI Capital Management increased its position 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 buying an additional 1,491 shares during the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Stock Performance

NYSE PHG traded down $0.40 during trading on Friday, reaching $28.22. 491,670 shares of the company's stock were exchanged, compared to its average volume of 682,512. The business has a 50 day moving average price of $26.53 and a 200-day moving average price of $25.09. The stock has a market capitalization of $27.17 billion, a P/E ratio of 148.53, a PEG ratio of 0.77 and a beta of 0.81. 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 fifty-two week low of $21.48 and a fifty-two week high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly 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. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.35 billion. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%. Sell-side analysts forecast that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.