Koninklijke Philips (NYSE:PHG) Downgraded by StockNews.com to “Hold”

Koninklijke Philips (NYSE:PHG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts have also recently commented on PHG. Sanford C. Bernstein upgraded Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. raised Koninklijke Philips from an “underweight” rating to a “neutral” rating in a research report on Tuesday, April 30th. BNP Paribas raised Koninklijke Philips from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 7th. Finally, UBS Group raised shares of Koninklijke Philips from a “sell” rating to a “neutral” rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.00.

Koninklijke Philips Stock Up 3.0 %

PHG traded up $0.75 on Thursday, reaching $26.03. The company’s stock had a trading volume of 514,976 shares, compared to its average volume of 669,659. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Koninklijke Philips has a fifty-two week low of $17.75 and a fifty-two week high of $29.44. The stock has a 50 day moving average of $26.27 and a two-hundred day moving average of $23.11. The company has a market capitalization of $23.59 billion, a price-to-earnings ratio of -27.11, a P/E/G ratio of 0.92 and a beta of 0.72.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, April 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter. Koninklijke Philips had a negative net margin of 4.41% and a positive return on equity of 9.82%. The business had revenue of $4.49 billion during the quarter. As a group, analysts forecast that Koninklijke Philips will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PHG. Principal Securities Inc. purchased a new stake in Koninklijke Philips in the 4th quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Koninklijke Philips in the 1st quarter valued at approximately $40,000. Fifth Third Bancorp grew its holdings in Koninklijke Philips by 34.4% during the first quarter. Fifth Third Bancorp now owns 3,008 shares of the technology company’s stock worth $60,000 after acquiring an additional 770 shares during the period. Headlands Technologies LLC acquired a new position in Koninklijke Philips during the first quarter worth $91,000. Finally, 1832 Asset Management L.P. raised its position in Koninklijke Philips by 42.6% in the first quarter. 1832 Asset Management L.P. now owns 5,945 shares of the technology company’s stock worth $119,000 after acquiring an additional 1,777 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

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.