Zacks Investment Research upgraded shares of Koninklijke Philips (NYSE:PHG) from a sell rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $46.00 target price on the technology company’s stock.

According to Zacks, “Philips’ expanding portfolio is driving share price momentum, which has outperformed the industry on a year-to-date basis. The company continues to benefit from growing Diagnosis & Treatment business on the back of partnerships, expanding geographical coverage and innovative solutions. Philips is gradually evolving as a healthcare company, having augmented its presence in the domain, primarily driven by an expanding portfolio. The company is expected to benefit from its focus on providing value-based care in the North American healthcare market. Moreover, increasing installed base of Access CT, and continued growth in IQon spectral CT and Vereos digital PET/CT systems are key catalysts. However, the company is under scrutiny from the FDA concerning a defibrillators dispute, which is expected to hurt EBITDA.”

A number of other equities research analysts have also recently commented on PHG. ValuEngine raised Koninklijke Philips from a hold rating to a buy rating in a research note on Monday, July 2nd. Exane BNP Paribas raised Koninklijke Philips from a neutral rating to an outperform rating in a research note on Tuesday, September 18th. Credit Suisse Group cut Koninklijke Philips from an outperform rating to a neutral rating in a research note on Tuesday, October 2nd. BNP Paribas raised Koninklijke Philips from a hold rating to a buy rating in a research report on Monday, September 17th. Finally, Sanford C. Bernstein began coverage on Koninklijke Philips in a research report on Thursday, September 13th. They set an outperform rating on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $46.00.

Koninklijke Philips stock traded down $0.38 during mid-day trading on Tuesday, reaching $40.13. The stock had a trading volume of 79,672 shares, compared to its average volume of 1,016,719. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.27. Koninklijke Philips has a fifty-two week low of $35.47 and a fifty-two week high of $46.67. The stock has a market capitalization of $38.31 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 4.07 and a beta of 1.14.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Monday, July 23rd. The technology company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.15). Koninklijke Philips had a net margin of 7.30% and a return on equity of 7.81%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the business posted $0.27 EPS. The company’s revenue was down .1% on a year-over-year basis. Research analysts forecast that Koninklijke Philips will post 1.85 EPS for the current year.

Large investors have recently made changes to their positions in the stock. New England Asset Management Inc. purchased a new position in shares of Koninklijke Philips during the second quarter valued at approximately $288,000. US Bancorp DE boosted its position in shares of Koninklijke Philips by 166.3% during the second quarter. US Bancorp DE now owns 82,141 shares of the technology company’s stock valued at $3,472,000 after buying an additional 51,291 shares during the last quarter. Eqis Capital Management Inc. boosted its position in shares of Koninklijke Philips by 12.6% during the second quarter. Eqis Capital Management Inc. now owns 15,060 shares of the technology company’s stock valued at $637,000 after buying an additional 1,680 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Koninklijke Philips during the second quarter valued at approximately $110,000. Finally, Northern Trust Corp boosted its position in shares of Koninklijke Philips by 4.7% during the first quarter. Northern Trust Corp now owns 850,663 shares of the technology company’s stock valued at $32,589,000 after buying an additional 37,992 shares during the last quarter. 4.86% of the stock is currently owned by institutional investors.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.

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