Koninklijke Philips (NYSE:PHG) Rating Lowered to Hold at Wall Street Zen

Koninklijke Philips (NYSE:PHG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein raised shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Koninklijke Philips in a research report on Monday. Finally, Royal Bank Of Canada began coverage on Koninklijke Philips in a report on Wednesday. They set a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Up 0.8%

PHG stock opened at $26.70 on Friday. The stock’s 50 day simple moving average is $27.73 and its 200 day simple moving average is $26.59. The company has a market cap of $25.71 billion, a P/E ratio of 133.51, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.86 and a current ratio of 1.32. Koninklijke Philips has a fifty-two week low of $21.48 and a fifty-two week high of $29.54.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%.The company had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.30 billion. On average, research analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

Several institutional investors and hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in Koninklijke Philips in the third quarter worth $27,000. AlphaCore Capital LLC bought a new position in shares of Koninklijke Philips during the 2nd quarter worth $41,000. Whipplewood Advisors LLC increased its holdings in Koninklijke Philips by 39.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company’s stock worth $51,000 after acquiring an additional 592 shares during the last quarter. MAI Capital Management increased its holdings in Koninklijke Philips by 167.7% in the 2nd quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock worth $57,000 after acquiring an additional 1,491 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in Koninklijke Philips in the 3rd quarter valued at about $83,000. 13.67% of the stock is owned by 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.