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

Koninklijke Philips (NYSE:PHG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Koninklijke Philips presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Performance

PHG stock opened at $25.84 on Thursday. The firm has a market cap of $24.29 billion, a PE ratio of -61.52, a P/E/G ratio of 0.91 and a beta of 0.77. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. Koninklijke Philips has a 12-month low of $19.49 and a 12-month high of $32.91. The business has a 50 day moving average of $30.14 and a 200-day moving average of $28.27.

Hedge Funds Weigh In On Koninklijke Philips

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Koninklijke Philips in the 1st quarter worth about $40,000. Envestnet Portfolio Solutions Inc. boosted its position in Koninklijke Philips by 9.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 23,475 shares of the technology company’s stock worth $469,000 after purchasing an additional 2,102 shares during the last quarter. Sei Investments Co. grew its stake in shares of Koninklijke Philips by 12.0% during the 1st quarter. Sei Investments Co. now owns 360,176 shares of the technology company’s stock valued at $7,204,000 after purchasing an additional 38,532 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Koninklijke Philips during the 1st quarter valued at about $91,000. Finally, US Bancorp DE raised its position in Koninklijke Philips by 8.0% in the first quarter. US Bancorp DE now owns 74,673 shares of the technology company’s stock worth $1,493,000 after acquiring an additional 5,544 shares during the period. 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.