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

StockNews.com cut shares of Koninklijke Philips (NYSE:PHG) from a buy rating to a hold rating in a report published on Thursday.

Separately, Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Koninklijke Philips Trading Up 0.3 %

Koninklijke Philips stock traded up $0.09 during midday trading on Thursday, hitting $25.83. 270,872 shares of the stock were exchanged, compared to its average volume of 973,041. Koninklijke Philips has a 52 week low of $19.49 and a 52 week high of $32.91. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $24.28 billion, a PE ratio of -61.55, a P/E/G ratio of 0.91 and a beta of 0.77. The company has a fifty day simple moving average of $30.14 and a two-hundred day simple moving average of $28.27.

Hedge Funds Weigh In On Koninklijke Philips

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Koninklijke Philips during the first quarter worth about $40,000. Fairscale Capital LLC acquired a new stake in shares of Koninklijke Philips in the second quarter valued at approximately $54,000. CWM LLC lifted its position in shares of Koninklijke Philips by 21.9% in the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after purchasing an additional 616 shares in the last quarter. Eastern Bank acquired a new position in Koninklijke Philips during the third quarter worth $88,000. Finally, Headlands Technologies LLC bought a new position in Koninklijke Philips in the first quarter valued at $91,000. Institutional investors 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.