Koninklijke Philips (NYSE:PHG) Short Interest Up 132.4% in March

Koninklijke Philips (NYSE:PHGGet 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.

Koninklijke Philips (NYSE:PHGGet Rating) last released its earnings results on Monday, January 24th. The technology company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.72). Koninklijke Philips had a return on equity of 9.33% and a net margin of 19.26%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.64 billion. On average, analysts expect that Koninklijke Philips will post 1.83 EPS for the current year.

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.

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