JPMorgan Chase & Co. Upgrades Koninklijke Philips (NYSE:PHG) to “Neutral”

Koninklijke Philips (NYSE:PHG) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports.

Several other brokerages have also commented on PHG. BNP Paribas lowered shares of Koninklijke Philips from an “outperform” rating to an “underperform” rating in a research note on Wednesday, February 7th. StockNews.com upgraded Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.00.

Koninklijke Philips Stock Performance

Koninklijke Philips stock opened at $26.71 on Tuesday. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $29.44. The company has a fifty day moving average price of $20.56 and a two-hundred day moving average price of $20.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 0.78. The company has a market cap of $24.80 billion, a PE ratio of -46.86, a P/E/G ratio of 1.09 and a beta of 0.88.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. Koninklijke Philips had a positive return on equity of 14.17% and a negative net margin of 2.53%. Research analysts expect that Koninklijke Philips will post 1.53 earnings per share for the current year.

Institutional Trading of Koninklijke Philips

A number of hedge funds and other institutional investors have recently made changes to their positions in PHG. Principal Securities Inc. acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new stake in Koninklijke Philips in the 1st quarter valued at about $40,000. Fifth Third Bancorp grew its stake in shares of Koninklijke Philips by 34.4% in the 1st quarter. Fifth Third Bancorp now owns 3,008 shares of the technology company’s stock worth $60,000 after purchasing an additional 770 shares during the last quarter. Allworth Financial LP lifted its stake in Koninklijke Philips by 113.3% during the third quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock valued at $65,000 after purchasing an additional 1,722 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Koninklijke Philips by 127.2% during the third quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock worth $69,000 after buying an additional 1,929 shares in the last quarter. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Company Profile

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.