Wall Street Zen Upgrades Koninklijke Philips (NYSE:PHG) to “Buy”

Koninklijke Philips (NYSE:PHG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also issued reports on PHG. Royal Bank Of Canada began coverage on Koninklijke Philips in a research report on Wednesday, December 17th. They set a “sector perform” rating on the stock. Sanford C. Bernstein raised Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Koninklijke Philips in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Koninklijke Philips currently has an average rating of “Hold”.

Koninklijke Philips Stock Up 0.5%

Shares of NYSE PHG opened at $29.57 on Friday. The stock has a market capitalization of $28.47 billion, a P/E ratio of 147.84, a PEG ratio of 0.74 and a beta of 0.79. Koninklijke Philips has a one year low of $21.48 and a one year high of $30.03. The firm’s 50 day simple moving average is $27.62 and its two-hundred day simple moving average is $27.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 0.86.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. As a group, analysts expect that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its position in Koninklijke Philips by 15.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 189,720 shares of the technology company’s stock valued at $4,549,000 after purchasing an additional 24,931 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Koninklijke Philips by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,351,015 shares of the technology company’s stock worth $32,397,000 after buying an additional 32,663 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Koninklijke Philips by 646.3% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 64,084 shares of the technology company’s stock worth $1,747,000 after buying an additional 55,497 shares in the last quarter. Investment Management Associates Inc. ADV purchased a new stake in shares of Koninklijke Philips during the second quarter valued at approximately $12,122,000. Finally, Bessemer Group Inc. increased its position in shares of Koninklijke Philips by 125.2% during the second quarter. Bessemer Group Inc. now owns 4,443 shares of the technology company’s stock valued at $106,000 after acquiring an additional 2,470 shares in the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

About Koninklijke Philips

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.