Short Interest in Koninklijke Philips (NYSE:PHG) Rises By 18.0%

Koninklijke Philips (NYSE:PHG) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 2,360,000 shares, a growth of 18.0% from the February 13th total of 2,000,000 shares. Based on an average daily volume of 723,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 0.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Koninklijke Philips Stock Performance

Koninklijke Philips stock opened at $25.88 on Friday. The firm has a market capitalization of $24.32 billion, a P/E ratio of -30.80, a P/E/G ratio of 0.82 and a beta of 0.78. The stock has a fifty day moving average price of $26.74 and a two-hundred day moving average price of $27.77. Koninklijke Philips has a 52-week low of $19.10 and a 52-week high of $32.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. As a group, analysts anticipate that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

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

Institutional Investors Weigh In On Koninklijke Philips

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Koninklijke Philips by 9.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,003 shares of the technology company’s stock valued at $2,507,000 after buying an additional 8,526 shares in the last quarter. Forum Financial Management LP grew its holdings in Koninklijke Philips by 18.0% during the 4th quarter. Forum Financial Management LP now owns 11,703 shares of the technology company’s stock worth $296,000 after acquiring an additional 1,784 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Koninklijke Philips in the fourth quarter worth about $114,000. Vise Technologies Inc. raised its stake in shares of Koninklijke Philips by 50.9% in the fourth quarter. Vise Technologies Inc. now owns 14,224 shares of the technology company’s stock worth $360,000 after acquiring an additional 4,795 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Koninklijke Philips by 6.4% during the fourth quarter. Vident Advisory LLC now owns 36,788 shares of the technology company’s stock worth $932,000 after purchasing an additional 2,210 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

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.