Zacks Investment Research Upgrades Koninklijke Philips (PHG) to “Buy”
Koninklijke Philips (NYSE:PHG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $44.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.11% from the company’s previous close.
According to Zacks, “Philips’ shares have outperformed the industry’s average return over the past one year. 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. The company also remains optimistic about prospects of its Diagnosis & Treatment vertical on account of positive industry trends. In addition, the company’s recent string of acquisitions is expected to prove accretive to its top line in the quarters ahead, and help strengthen its foothold in the end markets. However, the company sees an increasingly uncertain business environment in the near future, particularly in the United States, which could dampen its growth.”
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Koninklijke Philips from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 9th. Citigroup reaffirmed a “buy” rating on shares of Koninklijke Philips in a research report on Tuesday, October 24th. Finally, BNP Paribas lowered Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Koninklijke Philips presently has a consensus rating of “Hold” and an average target price of $40.50.
Koninklijke Philips (NYSE:PHG) traded up $0.29 on Thursday, reaching $39.96. The company had a trading volume of 552,551 shares, compared to its average volume of 1,120,000. Koninklijke Philips has a 1 year low of $28.71 and a 1 year high of $42.35. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.34. The firm has a market cap of $37,500.00, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.52 and a beta of 1.38.
Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.27 billion. Koninklijke Philips had a net margin of 6.67% and a return on equity of 7.19%. Koninklijke Philips’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. research analysts anticipate that Koninklijke Philips will post 1.37 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of PHG. Bank of New York Mellon Corp raised its position in Koninklijke Philips by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,860 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 3,207 shares in the last quarter. Neuberger Berman Group LLC raised its position in Koninklijke Philips by 2.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 21,376 shares of the technology company’s stock valued at $766,000 after purchasing an additional 541 shares in the last quarter. CIBC World Markets Inc. increased its holdings in shares of Koninklijke Philips by 41.7% in the 2nd quarter. CIBC World Markets Inc. now owns 27,131 shares of the technology company’s stock valued at $972,000 after acquiring an additional 7,979 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Koninklijke Philips by 16.8% in the 2nd quarter. Franklin Resources Inc. now owns 15,146 shares of the technology company’s stock valued at $543,000 after acquiring an additional 2,177 shares during the last quarter. Finally, Capital Fund Management S.A. increased its holdings in shares of Koninklijke Philips by 270.0% in the 2nd quarter. Capital Fund Management S.A. now owns 63,273 shares of the technology company’s stock valued at $2,266,000 after acquiring an additional 46,173 shares during the last quarter. 7.23% of the stock is currently owned by institutional investors.
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Koninklijke Philips Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The 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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