Zacks Investment Research upgraded shares of Koninklijke Philips (NYSE:PHG) from a sell rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $46.00 target price on the technology company’s stock.

According to Zacks, “Philips’ expanding portfolio is driving share price momentum, which has outperformed the industry on a year-to-date basis. The company continues to benefit from growing Diagnosis & Treatment business on the back of partnerships, expanding geographical coverage and innovative solutions. Philips is gradually evolving as a healthcare company, having augmented its presence in the domain, primarily driven by an expanding portfolio. The company is expected to benefit from its focus on providing value-based care in the North American healthcare market. Moreover, increasing installed base of Access CT, and continued growth in IQon spectral CT and Vereos digital PET/CT systems are key catalysts. However, the company is under scrutiny from the FDA concerning a defibrillators dispute, which is expected to hurt EBITDA.”

PHG has been the topic of a number of other research reports. Credit Suisse Group cut Koninklijke Philips from an outperform rating to a neutral rating in a research note on Tuesday, October 2nd. BNP Paribas upgraded Koninklijke Philips from a hold rating to a buy rating in a research note on Monday, September 17th. Exane BNP Paribas raised Koninklijke Philips from a neutral rating to an outperform rating in a research report on Tuesday, September 18th. Sanford C. Bernstein assumed coverage on Koninklijke Philips in a research report on Thursday, September 13th. They set an outperform rating on the stock. Finally, ValuEngine raised Koninklijke Philips from a hold rating to a buy rating in a research report on Monday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $46.00.

Shares of Koninklijke Philips stock opened at $41.43 on Tuesday. The firm has a market capitalization of $42.15 billion, a P/E ratio of 33.41, a PEG ratio of 4.48 and a beta of 1.14. Koninklijke Philips has a twelve month low of $35.47 and a twelve month high of $46.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.27.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Monday, July 23rd. The technology company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.15). The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.35 billion. Koninklijke Philips had a return on equity of 7.81% and a net margin of 7.30%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities research analysts predict that Koninklijke Philips will post 1.85 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PHG. Flagship Harbor Advisors LLC purchased a new stake in shares of Koninklijke Philips during the second quarter worth about $110,000. Shufro Rose & Co. LLC purchased a new stake in shares of Koninklijke Philips during the second quarter worth about $202,000. Park National Corp OH purchased a new stake in shares of Koninklijke Philips during the second quarter worth about $206,000. HRT Financial LLC purchased a new stake in shares of Koninklijke Philips during the second quarter worth about $206,000. Finally, Parsec Financial Management Inc. purchased a new stake in shares of Koninklijke Philips during the second quarter worth about $207,000. 4.86% of the stock is currently owned by institutional investors and hedge funds.

About Koninklijke Philips

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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