Koninklijke Philips N.V. (PHG) Upgraded by Zacks Investment Research to Strong-Buy
Zacks Investment Research upgraded shares of Koninklijke Philips N.V. (NYSE:PHG) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. They currently have $44.00 price objective on the technology company’s stock.
According to Zacks, “Philips’ shares have outperformed the industry’s average return over the past six months. 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. Philips’ continuous investments in this segment and innovative product launches are adding to its strength and its recent string of acquisitions should help strengthen its foothold in the end markets. Philips is seeing impressive momentum in its HealthTech portfolio sales, and is benefiting from cost-productivity programs and higher volumes. Its Personal Health vertical is also progressing well, and is seeing particular strength in the Health & Wellness and Sleep & Respiratory Care units. However, the company sees an increasingly uncertain business environment in the near future, particularly in the U.S, which could dampen its growth.”
A number of other analysts also recently issued reports on PHG. Natixis downgraded Koninklijke Philips N.V. from a buy rating to a neutral rating in a research report on Wednesday, June 21st. BidaskClub downgraded Koninklijke Philips N.V. from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Deutsche Bank AG downgraded Koninklijke Philips N.V. from a buy rating to a hold rating in a research report on Tuesday, June 20th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $37.00 target price on shares of Koninklijke Philips N.V. in a research report on Monday, July 3rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Koninklijke Philips N.V. presently has a consensus rating of Buy and an average price target of $37.00.
Koninklijke Philips N.V. (NYSE PHG) opened at 38.03 on Tuesday. The stock has a 50 day moving average price of $37.31 and a 200 day moving average price of $34.34. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 20.57 and a beta of 1.34. Koninklijke Philips N.V. has a 1-year low of $28.19 and a 1-year high of $38.61.
Koninklijke Philips N.V. (NYSE:PHG) last released its quarterly earnings results on Monday, July 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Koninklijke Philips N.V. will post $1.95 EPS for the current year.
Koninklijke Philips N.V. announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the technology company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Koninklijke Philips N.V. during the second quarter worth $233,000. YorkBridge Wealth Partners LLC acquired a new position in shares of Koninklijke Philips N.V. during the first quarter worth $122,000. IFP Advisors Inc increased its position in shares of Koninklijke Philips N.V. by 10.5% in the first quarter. IFP Advisors Inc now owns 4,748 shares of the technology company’s stock worth $152,000 after buying an additional 452 shares during the period. Advisory Services Network LLC acquired a new position in shares of Koninklijke Philips N.V. during the first quarter worth $156,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Koninklijke Philips N.V. by 47.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,959 shares of the technology company’s stock worth $159,000 after buying an additional 1,607 shares during the period. 7.56% of the stock is currently owned by institutional investors and hedge funds.
Koninklijke Philips N.V. Company Profile
Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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