Koninklijke Philips (NYSE:PHG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Koninklijke Philips (NYSE:PHG) from a strong sell rating to a hold rating in a report published on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Wall Street Zen raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, UBS Group restated a “neutral” rating on shares of Koninklijke Philips in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Hold”.

Koninklijke Philips Trading Down 0.3%

Shares of NYSE PHG opened at $27.30 on Thursday. The company’s 50 day simple moving average is $26.76 and its 200 day simple moving average is $27.75. Koninklijke Philips has a fifty-two week low of $23.85 and a fifty-two week high of $33.44. The firm has a market capitalization of $26.84 billion, a P/E ratio of 20.12, a P/E/G ratio of 11.36 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82.

Hedge Funds Weigh In On Koninklijke Philips

A number of large investors have recently bought and sold shares of the company. Whipplewood Advisors LLC grew its stake in shares of Koninklijke Philips by 923.7% during the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company’s stock worth $27,000 after acquiring an additional 896 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Koninklijke Philips in the third quarter worth $27,000. CIBC Private Wealth Group LLC boosted its holdings in Koninklijke Philips by 179.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company’s stock worth $34,000 after purchasing an additional 817 shares during the last quarter. Navalign LLC acquired a new position in Koninklijke Philips during the fourth quarter worth $54,000. Finally, Hilton Head Capital Partners LLC bought a new position in Koninklijke Philips in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

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.