Koninklijke Philips (NYSE:PHG) Cut to Hold at StockNews.com

Koninklijke Philips (NYSE:PHG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Koninklijke Philips Stock Up 0.4 %

Shares of PHG opened at $25.84 on Thursday. The business’s 50 day simple moving average is $30.14 and its 200-day simple moving average is $28.27. Koninklijke Philips has a 1 year low of $19.49 and a 1 year high of $32.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of -61.52, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77.

Hedge Funds Weigh In On Koninklijke Philips

A number of large investors have recently bought and sold shares of PHG. Millennium Management LLC raised its stake in Koninklijke Philips by 822.0% in the second quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock worth $28,237,000 after buying an additional 998,995 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Koninklijke Philips by 2,883.5% during the 3rd quarter. Bank of Montreal Can now owns 982,199 shares of the technology company’s stock worth $32,157,000 after purchasing an additional 949,278 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Koninklijke Philips by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,036,336 shares of the technology company’s stock valued at $101,718,000 after purchasing an additional 864,951 shares in the last quarter. IHT Wealth Management LLC bought a new position in Koninklijke Philips in the third quarter worth about $19,593,000. Finally, Jane Street Group LLC lifted its position in shares of Koninklijke Philips by 361.7% during the first quarter. Jane Street Group LLC now owns 629,136 shares of the technology company’s stock valued at $12,583,000 after buying an additional 492,881 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.