Koninklijke Philips (PHG) Downgraded by Zacks Investment Research

Koninklijke Philips (NYSE:PHG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Philips’ is benefiting from strong sales in Diagnosis & Treatment businesses. The company’s expanding portfolio is driving share price momentum, which has outperformed the industry on a year-to-date basis. The company remains optimistic about the prospects of its Diagnosis & Treatment vertical. However, management also mentioned that growth of Ultrasound might not be as good as in the first quarter. Moreover, the company’s near-term profitability is likely to be hurt by the sluggish growth prospects of the healthcare market on a global scale. Also, high restructuring and acquisition-related costs are major headwinds.”

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A number of other research analysts have also recently commented on PHG. ValuEngine upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday. Deutsche Bank upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Tuesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Koninklijke Philips presently has an average rating of “Buy” and an average target price of $48.00.

Koninklijke Philips traded up $0.53, reaching $43.50, during midday trading on Friday, according to Marketbeat. 58,702 shares of the company’s stock were exchanged, compared to its average volume of 647,221. The stock has a market cap of $39.68 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 2.12 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.34. Koninklijke Philips has a one year low of $35.24 and a one year high of $43.45.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, April 23rd. The technology company reported $0.20 EPS for the quarter. The firm had revenue of $4.84 billion during the quarter. Koninklijke Philips had a net margin of 8.76% and a return on equity of 7.08%. equities research analysts expect that Koninklijke Philips will post 2.13 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of Koninklijke Philips by 283.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,085,178 shares of the technology company’s stock worth $41,020,000 after buying an additional 802,100 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Koninklijke Philips by 4.7% during the first quarter. Northern Trust Corp now owns 850,663 shares of the technology company’s stock worth $32,589,000 after buying an additional 37,992 shares in the last quarter. Jefferies Group LLC increased its holdings in shares of Koninklijke Philips by 59.0% during the fourth quarter. Jefferies Group LLC now owns 64,439 shares of the technology company’s stock worth $2,436,000 after buying an additional 23,903 shares in the last quarter. SWS Partners acquired a new stake in shares of Koninklijke Philips during the fourth quarter worth approximately $1,528,000. Finally, HBK Investments L P increased its holdings in shares of Koninklijke Philips by 110.3% during the fourth quarter. HBK Investments L P now owns 40,584 shares of the technology company’s stock worth $1,534,000 after buying an additional 21,284 shares in the last quarter. 5.44% of the stock is owned by institutional investors.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.

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