Koninklijke Philips (NYSE:PHG) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently commented on PHG. Weiss Ratings upgraded Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Wall Street Zen upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Koninklijke Philips has a consensus rating of “Reduce”.

Koninklijke Philips Stock Down 1.3%

NYSE PHG opened at $26.94 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.32 and a quick ratio of 0.90. The company’s 50 day simple moving average is $26.68 and its 200 day simple moving average is $28.08. Koninklijke Philips has a 12 month low of $24.30 and a 12 month high of $33.44. The company has a market capitalization of $26.48 billion, a P/E ratio of 23.08, a PEG ratio of 5.87 and a beta of 0.75.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. Equities research analysts expect that Koninklijke Philips will post 1.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PHG. Lido Advisors LLC raised its holdings in shares of Koninklijke Philips by 3.7% in the 4th quarter. Lido Advisors LLC now owns 9,062 shares of the technology company’s stock worth $247,000 after buying an additional 323 shares in the last quarter. Rhumbline Advisers boosted its stake in Koninklijke Philips by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,306 shares of the technology company’s stock valued at $703,000 after buying an additional 388 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Koninklijke Philips by 5.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,759 shares of the technology company’s stock valued at $210,000 after acquiring an additional 399 shares during the period. Franklin Resources Inc. grew its position in Koninklijke Philips by 3.9% in the third quarter. Franklin Resources Inc. now owns 11,592 shares of the technology company’s stock valued at $316,000 after acquiring an additional 439 shares during the period. Finally, Bessemer Group Inc. raised its stake in Koninklijke Philips by 19.8% during the first quarter. Bessemer Group Inc. now owns 2,756 shares of the technology company’s stock worth $76,000 after acquiring an additional 456 shares in the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Company Profile

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.