BNP Paribas Upgrades Koninklijke Philips (NYSE:PHG) to “Neutral”

Koninklijke Philips (NYSE:PHG) was upgraded by analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a report released on Tuesday, MarketBeat Ratings reports.

A number of other research firms have also recently commented on PHG. StockNews.com raised shares of Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upgraded Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 30th. Finally, UBS Group raised Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $26.00 on Tuesday. The company has a market cap of $24.14 billion, a P/E ratio of -27.08, a PEG ratio of 1.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 0.78. The stock’s 50-day moving average is $21.35 and its 200 day moving average is $21.33. Koninklijke Philips has a 1-year low of $17.75 and a 1-year high of $29.44.

Hedge Funds Weigh In On Koninklijke Philips

Several hedge funds have recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in shares of Koninklijke Philips in the fourth quarter valued at about $27,000. Allspring Global Investments Holdings LLC acquired a new position in Koninklijke Philips in the 1st quarter worth approximately $40,000. Fifth Third Bancorp raised its position in Koninklijke Philips by 34.4% during the 1st quarter. Fifth Third Bancorp now owns 3,008 shares of the technology company’s stock worth $60,000 after buying an additional 770 shares during the last quarter. Allworth Financial LP raised its position in Koninklijke Philips by 113.3% during the 3rd quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock worth $65,000 after buying an additional 1,722 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Koninklijke Philips by 127.2% during the 3rd quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock valued at $69,000 after acquiring an additional 1,929 shares during the period. 13.67% of the stock is owned by institutional investors and hedge funds.

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.