Koninklijke Philips (NYSE:PHG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Koninklijke Philips (NYSE:PHGFree Report) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts also recently issued reports about the stock. UBS Group raised shares of Koninklijke Philips from a sell 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. Sanford C. Bernstein raised Koninklijke Philips from a market perform rating to an outperform rating in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. raised shares of Koninklijke Philips from an underweight rating to a neutral rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Koninklijke Philips presently has an average rating of Moderate Buy and a consensus target price of $19.00.

Get Our Latest Analysis on PHG

Koninklijke Philips Trading Up 1.8 %

Shares of NYSE PHG traded up $0.47 during midday trading on Friday, hitting $26.98. 1,100,871 shares of the company traded hands, compared to its average volume of 1,917,581. Koninklijke Philips has a 12-month low of $17.75 and a 12-month high of $29.44. The firm has a market cap of $25.05 billion, a P/E ratio of -28.10, a P/E/G ratio of 0.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.20. The stock has a 50-day moving average price of $22.98 and a 200 day moving average price of $22.01.

Koninklijke Philips (NYSE:PHGGet Free Report) last released its earnings results on Monday, April 29th. The technology company reported $0.28 EPS for the quarter. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. The firm had revenue of $4.49 billion for the quarter. As a group, analysts expect that Koninklijke Philips will post 1.54 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, May 10th were issued a dividend of $0.9154 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 9th. Koninklijke Philips’s payout ratio is -95.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Koninklijke Philips by 19.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,679 shares of the technology company’s stock valued at $253,000 after acquiring an additional 2,059 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Koninklijke Philips by 21.9% during the third quarter. Bank of New York Mellon Corp now owns 114,019 shares of the technology company’s stock worth $2,274,000 after buying an additional 20,499 shares in the last quarter. M&T Bank Corp boosted its position in shares of Koninklijke Philips by 11.3% in the 3rd quarter. M&T Bank Corp now owns 16,589 shares of the technology company’s stock valued at $331,000 after purchasing an additional 1,682 shares during the period. Signaturefd LLC boosted its stake in Koninklijke Philips by 5.6% in the third quarter. Signaturefd LLC now owns 24,420 shares of the technology company’s stock valued at $487,000 after acquiring an additional 1,304 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Koninklijke Philips during the 3rd quarter valued at $301,000. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

About Koninklijke Philips

(Get Free Report)

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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Analyst Recommendations for Koninklijke Philips (NYSE:PHG)

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