JPMorgan Chase & Co. upgraded shares of Koninklijke Philips (NYSE:PHG – Free Report) from an underweight rating to a neutral rating in a research note published on Tuesday, Marketbeat.com reports.
Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Koninklijke Philips from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. BNP Paribas cut shares of Koninklijke Philips from an outperform rating to an underperform rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $19.00.
Check Out Our Latest Stock Analysis on PHG
Koninklijke Philips Price Performance
Koninklijke Philips (NYSE:PHG – Get Free Report) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Koninklijke Philips had a negative net margin of 2.53% and a positive return on equity of 14.17%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.47 billion. Research analysts predict that Koninklijke Philips will post 1.53 earnings per share for the current year.
Hedge Funds Weigh In On Koninklijke Philips
Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Koninklijke Philips during the 1st quarter valued at $40,000. Commonwealth Equity Services LLC lifted its holdings in Koninklijke Philips by 6.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 55,409 shares of the technology company’s stock worth $1,108,000 after buying an additional 3,182 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in Koninklijke Philips by 8.2% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 31,568 shares of the technology company’s stock worth $631,000 after buying an additional 2,401 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Koninklijke Philips by 34.4% in 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 in the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in Koninklijke Philips by 7.9% in the 1st quarter. Summit Trail Advisors LLC now owns 16,126 shares of the technology company’s stock worth $323,000 after buying an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.
Koninklijke Philips Company Profile
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.
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