Koninklijke Philips (NYSE:PHG) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings raised shares of Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Koninklijke Philips currently has a consensus rating of “Reduce”.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $27.26 on Wednesday. Koninklijke Philips has a 52-week low of $24.30 and a 52-week high of $33.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.32. The firm 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 stock has a 50 day moving average price of $26.69 and a 200 day moving average price of $28.08.

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

Institutional Inflows and Outflows

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