Koninklijke Philips (NYSE:PHG – Get Rating) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,130,000 shares, an increase of 132.4% from the March 15th total of 486,200 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,270,000 shares, the days-to-cover ratio is presently 0.5 days.
PHG has been the subject of several analyst reports. ING Group cut Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Friday, January 21st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Koninklijke Philips from €35.00 ($38.04) to €30.00 ($32.61) and set a “hold” rating for the company in a research report on Monday, March 28th. Citigroup cut shares of Koninklijke Philips from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 12th. StockNews.com initiated coverage on shares of Koninklijke Philips in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Barclays lowered their price objective on Koninklijke Philips from €51.50 ($55.98) to €46.00 ($50.00) in a research report on Friday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Koninklijke Philips has an average rating of “Hold” and an average target price of $36.50.
NYSE:PHG opened at $29.26 on Friday. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.45 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.45. Koninklijke Philips has a 52 week low of $29.08 and a 52 week high of $61.23. The company has a fifty day simple moving average of $31.73 and a two-hundred day simple moving average of $36.67.
The company also recently announced an annual dividend, which will be paid on Wednesday, June 8th. Investors of record on Friday, May 13th will be paid a dividend of $0.9641 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a dividend yield of 2.7%. Koninklijke Philips’s payout ratio is 21.31%.
A number of large investors have recently modified their holdings of PHG. Wellington Management Group LLP lifted its holdings in Koninklijke Philips by 88.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,050,676 shares of the technology company’s stock worth $313,332,000 after buying an additional 3,303,565 shares during the last quarter. American Century Companies Inc. lifted its stake in Koninklijke Philips by 89.5% during the third quarter. American Century Companies Inc. now owns 2,396,435 shares of the technology company’s stock worth $106,498,000 after purchasing an additional 1,131,707 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Koninklijke Philips by 513.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 982,883 shares of the technology company’s stock valued at $36,219,000 after purchasing an additional 822,598 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Koninklijke Philips in the third quarter valued at approximately $11,679,000. Finally, Morgan Stanley raised its holdings in Koninklijke Philips by 29.2% during the second quarter. Morgan Stanley now owns 1,123,329 shares of the technology company’s stock worth $55,829,000 after purchasing an additional 254,046 shares in the last quarter. 14.80% of the stock is currently owned by hedge funds and other institutional investors.
Koninklijke Philips Company Profile (Get Rating)
Koninklijke Philips N.V. operates as a health technology company in North America and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company provides diagnostic imaging solutions, includes magnetic resonance imaging, computed tomography (CT) systems, X-ray systems, and detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; integrated interventional systems; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.
- Get a free copy of the StockNews.com research report on Koninklijke Philips (PHG)
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