Koninklijke Philips (NYSE:PHG) Given Average Rating of “Reduce” by Analysts

Shares of Koninklijke Philips (NYSE:PHG) have earned a consensus rating of “Reduce” from the ten research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.06.

A number of equities research analysts recently weighed in on PHG shares. StockNews.com cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Koninklijke Philips in a research note on Wednesday, July 12th. They issued a “buy” rating for the company. TheStreet upgraded shares of Koninklijke Philips from a “d+” rating to a “c-” rating in a research note on Monday, July 24th. Finally, Citigroup upped their target price on Koninklijke Philips to €19.00 ($20.43) in a research report on Friday, July 7th.

Hedge Funds Weigh In On Koninklijke Philips

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Koninklijke Philips by 4.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,411 shares of the technology company’s stock worth $501,000 after buying an additional 771 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Koninklijke Philips by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 62,767 shares of the technology company’s stock valued at $1,916,000 after acquiring an additional 1,414 shares during the period. Cetera Advisor Networks LLC bought a new position in Koninklijke Philips in the first quarter valued at about $311,000. Citigroup Inc. increased its position in Koninklijke Philips by 1.3% in the first quarter. Citigroup Inc. now owns 36,882 shares of the technology company’s stock worth $1,126,000 after purchasing an additional 483 shares during the period. Finally, Bank of Montreal Can raised its holdings in Koninklijke Philips by 9.9% during the 1st quarter. Bank of Montreal Can now owns 94,798 shares of the technology company’s stock worth $3,002,000 after purchasing an additional 8,515 shares during the last quarter. 6.64% of the stock is owned by institutional investors.

Koninklijke Philips Stock Down 2.4 %

NYSE:PHG opened at $20.81 on Monday. The stock has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $19.88. Koninklijke Philips has a one year low of $11.75 and a one year high of $23.30. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of -8.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 1.20.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Sunday, July 23rd. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.30 billion. Koninklijke Philips had a negative net margin of 10.84% and a positive return on equity of 7.95%. During the same quarter in the prior year, the business earned $0.15 earnings per share. Sell-side analysts predict that Koninklijke Philips will post 1.11 EPS for the current fiscal year.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, 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, 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; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.