Koninklijke Philips (NYSE:PHG) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Koninklijke Philips (NYSE:PHG) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently commented on PHG. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Koninklijke Philips has an average rating of “Moderate Buy”.

Koninklijke Philips Trading Down 3.4 %

PHG stock opened at $25.88 on Tuesday. The company has a market cap of $24.32 billion, a price-to-earnings ratio of -30.80, a PEG ratio of 0.82 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $26.74 and a 200-day simple moving average of $27.77. Koninklijke Philips has a 52 week low of $19.10 and a 52 week high of $32.91.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.10 billion. On average, equities research analysts expect that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.886 per share. This represents a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s payout ratio is -89.29%.

Institutional Investors Weigh In On Koninklijke Philips

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Koninklijke Philips by 0.6% during the 3rd quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock valued at $200,859,000 after purchasing an additional 35,935 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Koninklijke Philips by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company’s stock valued at $108,624,000 after purchasing an additional 85,994 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Koninklijke Philips by 87.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock valued at $56,266,000 after purchasing an additional 1,038,321 shares in the last quarter. Northern Trust Corp grew its holdings in Koninklijke Philips by 36.6% during the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company’s stock valued at $40,734,000 after purchasing an additional 430,757 shares in the last quarter. Finally, Causeway Capital Management LLC grew its holdings in Koninklijke Philips by 24.0% during the 4th quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company’s stock valued at $39,673,000 after purchasing an additional 303,428 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

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.