Short Interest in Koninklijke Philips (NYSE:PHG) Drops By 17.2%

Koninklijke Philips (NYSE:PHG) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 2,360,000 shares, a drop of 17.2% from the September 30th total of 2,850,000 shares. Based on an average daily trading volume, of 801,200 shares, the short-interest ratio is currently 2.9 days.

Koninklijke Philips Price Performance

NYSE:PHG traded down $5.05 during trading hours on Monday, hitting $26.62. 4,264,533 shares of the stock were exchanged, compared to its average volume of 977,961. The firm’s fifty day moving average price is $31.10 and its 200 day moving average price is $27.79. Koninklijke Philips has a 52-week low of $18.47 and a 52-week high of $32.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The firm had revenue of $4.80 billion for the quarter. On average, equities analysts expect that Koninklijke Philips will post 1.59 EPS for the current year.

Institutional Investors Weigh In On Koninklijke Philips

A number of hedge funds have recently modified their holdings of PHG. Allspring Global Investments Holdings LLC purchased a new position in shares of Koninklijke Philips in the first quarter worth about $40,000. Fairscale Capital LLC purchased a new position in shares of Koninklijke Philips in the second quarter worth about $54,000. CWM LLC lifted its stake in shares of Koninklijke Philips by 21.9% in the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after buying an additional 616 shares in the last quarter. Eastern Bank purchased a new position in shares of Koninklijke Philips in the third quarter worth about $88,000. Finally, Headlands Technologies LLC purchased a new position in shares of Koninklijke Philips in the first quarter worth about $91,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Koninklijke Philips currently has an average rating of “Hold”.

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.