Koninklijke Philips NV (PHG) Upgraded to “Hold” by Zacks Investment Research
Koninklijke Philips NV (NYSE:PHG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Philips’ second-quarter 2016 earnings increased 53.3% from the year-ago tally largely driven by improvements in the HealthTech portfolio. Philips’ Healthcare segment is showing impressive momentum and the company believes increased spending on healthcare and fitness will act as a long-term growth driver. Also, comprehensive performance improvement and change-initiative programs undertaken by the company are speeding up growth. However, lackluster growth prospects of the healthcare markets across the globe are expected to thwart the company’s growth momentum in the near-term. Also, higher restructuring expenses and escalating taxes are proving to be a drag on the company’s financials. Also, uncertainties relating to the Brexit referendum can also dampen the company’s growth prospects.”
Other equities analysts also recently issued reports about the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Koninklijke Philips NV in a research note on Sunday, May 1st. BNP Paribas raised shares of Koninklijke Philips NV from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Koninklijke Philips NV presently has an average rating of “Buy” and a consensus target price of $32.00.
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Shares of Koninklijke Philips NV (NYSE:PHG) traded down 1.79% during trading on Thursday, reaching $28.56. 1,196,147 shares of the company traded hands. The firm’s 50 day moving average is $28.11 and its 200-day moving average is $26.91. The stock has a market capitalization of $26.48 billion, a P/E ratio of 32.31 and a beta of 1.49. Koninklijke Philips NV has a 12-month low of $23.00 and a 12-month high of $29.64.
Koninklijke Philips NV (NYSE:PHG) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The business earned $5.86 billion during the quarter, compared to the consensus estimate of $5.91 billion. Koninklijke Philips NV had a net margin of 3.01% and a return on equity of 2.93%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities research analysts anticipate that Koninklijke Philips NV will post $1.56 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in PHG. Comerica Bank boosted its position in shares of Koninklijke Philips NV by 7.5% in the fourth quarter. Comerica Bank now owns 53,554 shares of the company’s stock valued at $1,287,000 after buying an additional 3,745 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Koninklijke Philips NV by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 104,036 shares of the company’s stock valued at $2,648,000 after buying an additional 2,140 shares in the last quarter. Timber Hill LLC bought a new position in shares of Koninklijke Philips NV during the second quarter valued at about $415,000. Glenmede Trust Co. NA boosted its position in shares of Koninklijke Philips NV by 17.9% in the second quarter. Glenmede Trust Co. NA now owns 49,099 shares of the company’s stock valued at $1,224,000 after buying an additional 7,468 shares in the last quarter. Finally, HBK Investments L P bought a new position in shares of Koninklijke Philips NV during the first quarter valued at about $365,000. Institutional investors own 6.61% of the company’s stock.
About Koninklijke Philips NV
Koninklijke Philips N.V. is a health and well-being company. The Company operates through three segments: Healthcare, Consumer Lifestyle and Lighting. Its Healthcare segment consists of imaging systems, healthcare informatics, services and solutions, patient care and monitoring solutions, and customer services.
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