Koninklijke Philips (NYSE:PHG) Upgraded by Sanford C. Bernstein to “Outperform”

Sanford C. Bernstein upgraded shares of Koninklijke Philips (NYSE:PHGFree Report) from a market perform rating to an outperform rating in a report issued on Monday morning, MarketBeat.com reports.

Several other research firms have also recently issued reports on PHG. UBS Group raised Koninklijke Philips from a sell rating to a neutral rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised shares of Koninklijke Philips from an underweight rating to a neutral rating in a research note on Tuesday, April 30th. BNP Paribas raised shares of Koninklijke Philips from an underperform rating to a neutral rating in a research note on Tuesday, May 7th. Finally, StockNews.com upgraded shares of Koninklijke Philips from a buy rating to a strong-buy rating in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $19.00.

View Our Latest Analysis on Koninklijke Philips

Koninklijke Philips Price Performance

Shares of PHG stock opened at $26.96 on Monday. The firm’s 50-day moving average is $21.73 and its two-hundred day moving average is $21.49. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $29.44. 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 company has a market capitalization of $25.04 billion, a PE ratio of -28.08, a price-to-earnings-growth ratio of 1.39 and a beta of 0.75.

Koninklijke Philips Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, May 10th were given a $0.9154 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a yield of 3.5%. Koninklijke Philips’s dividend payout ratio is presently -96.87%.

Institutional Trading of Koninklijke Philips

A number of large investors have recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in Koninklijke Philips during the 4th quarter worth about $27,000. Allspring Global Investments Holdings LLC purchased a new position in Koninklijke Philips in the first quarter worth approximately $40,000. Fifth Third Bancorp grew its holdings 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 acquiring an additional 770 shares in the last quarter. Allworth Financial LP increased its position in shares of Koninklijke Philips by 113.3% in the 3rd quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock valued at $65,000 after purchasing an additional 1,722 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Koninklijke Philips by 127.2% in the 3rd quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,929 shares in the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

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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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Analyst Recommendations for Koninklijke Philips (NYSE:PHG)

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