Shares of Koninklijke Philips N.V. (NYSE:PHG) have received an average recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $37.67.
PHG has been the subject of several analyst reports. Zacks Investment Research raised Koninklijke Philips N.V. from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, August 29th. Deutsche Bank AG downgraded Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. Natixis downgraded Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. purchased a new stake in shares of Koninklijke Philips N.V. during the third quarter valued at approximately $250,000. Park National Corp OH purchased a new stake in shares of Koninklijke Philips N.V. during the third quarter valued at approximately $201,000. Toronto Dominion Bank increased its position in shares of Koninklijke Philips N.V. by 1.1% during the second quarter. Toronto Dominion Bank now owns 24,697 shares of the technology company’s stock valued at $886,000 after acquiring an additional 270 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Koninklijke Philips N.V. during the second quarter valued at approximately $271,000. Finally, Scotia Capital Inc. increased its position in shares of Koninklijke Philips N.V. by 354.3% during the second quarter. Scotia Capital Inc. now owns 81,867 shares of the technology company’s stock valued at $2,932,000 after acquiring an additional 63,846 shares during the last quarter. 7.56% of the stock is owned by institutional investors.
Shares of Koninklijke Philips N.V. (NYSE PHG) traded down 0.27% during midday trading on Friday, reaching $41.08. The company had a trading volume of 903,230 shares. Koninklijke Philips N.V. has a 12-month low of $28.19 and a 12-month high of $42.25. The stock’s 50 day moving average is $40.45 and its 200-day moving average is $36.77. The stock has a market capitalization of $38.49 billion, a PE ratio of 21.74 and a beta of 1.36.
Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Koninklijke Philips N.V. had a return on equity of 8.92% and a net margin of 6.39%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, equities research analysts predict that Koninklijke Philips N.V. will post $1.95 earnings per share for the current fiscal year.
Koninklijke Philips N.V. announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback shares. This buyback authorization allows the technology company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
About Koninklijke Philips N.V.
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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