Zacks Investment Research upgraded shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a buy rating in a report issued on Monday. They currently have $48.00 price target on the technology company’s stock.
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.”
PHG has been the subject of a number of other reports. Deutsche Bank raised Koninklijke Philips from a hold rating to a buy rating in a report on Tuesday, April 17th. ValuEngine raised Koninklijke Philips from a hold rating to a buy rating in a report on Saturday, April 7th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Koninklijke Philips presently has a consensus rating of Buy and a consensus price target of $42.50.
Shares of Koninklijke Philips opened at $42.23 on Monday, MarketBeat reports. Koninklijke Philips has a 12-month low of $35.24 and a 12-month high of $43.45. The company has a market capitalization of $39.37 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.47 and a quick ratio of 1.13.
Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, April 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter. Koninklijke Philips had a return on equity of 7.08% and a net margin of 8.76%. The company had revenue of $4.84 billion during the quarter. sell-side analysts anticipate that Koninklijke Philips will post 2.13 EPS for the current year.
Large investors have recently made changes to their positions in the business. Stifel Financial Corp raised its stake in shares of Koninklijke Philips by 4.0% during the 1st quarter. Stifel Financial Corp now owns 33,865 shares of the technology company’s stock worth $1,298,000 after buying an additional 1,291 shares during the period. Advisor Partners LLC raised its stake in shares of Koninklijke Philips by 23.2% during the 1st quarter. Advisor Partners LLC now owns 8,099 shares of the technology company’s stock worth $310,000 after buying an additional 1,525 shares during the period. Morningstar Investment Services LLC raised its stake in shares of Koninklijke Philips by 7.7% during the 1st quarter. Morningstar Investment Services LLC now owns 22,058 shares of the technology company’s stock worth $845,000 after buying an additional 1,574 shares during the period. KCS Wealth Advisory raised its stake in shares of Koninklijke Philips by 8.9% during the 1st quarter. KCS Wealth Advisory now owns 19,780 shares of the technology company’s stock worth $758,000 after buying an additional 1,613 shares during the period. Finally, Advisor Group Inc. raised its stake in shares of Koninklijke Philips by 45.9% during the 4th quarter. Advisor Group Inc. now owns 5,900 shares of the technology company’s stock worth $224,000 after buying an additional 1,855 shares during the period. 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.