Koninklijke Philips (NYSE:PHG) Rating Lowered to Strong Sell at Zacks Research

Koninklijke Philips (NYSE:PHG) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on PHG. Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Koninklijke Philips Stock Performance

Shares of PHG opened at $27.26 on Wednesday. The stock has a market capitalization of $26.79 billion, a P/E ratio of 23.36, a P/E/G ratio of 5.81 and a beta of 0.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.32. Koninklijke Philips has a 1 year low of $24.30 and a 1 year high of $33.44. The company’s fifty day moving average is $26.69 and its two-hundred day moving average is $28.08.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. On average, sell-side analysts predict that Koninklijke Philips will post 1.87 earnings per share for the current year.

Institutional Trading of Koninklijke Philips

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Koninklijke Philips by 1.3% during the 1st quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock worth $6,854,000 after acquiring an additional 3,540 shares in the last quarter. AQR Capital Management LLC increased its stake in Koninklijke Philips by 60.8% in the 1st quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock valued at $432,000 after purchasing an additional 6,429 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Koninklijke Philips by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock worth $21,495,000 after purchasing an additional 12,908 shares during the last quarter. Jane Street Group LLC boosted its position in Koninklijke Philips by 125.8% during the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock worth $2,642,000 after purchasing an additional 57,952 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Koninklijke Philips by 58.0% during the second quarter. JPMorgan Chase & Co. now owns 87,616 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 32,180 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.