BNP Paribas Downgrades Koninklijke Philips N.V. (NYSE:PHG) to Neutral

Koninklijke Philips N.V. (NYSE:PHG) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, October 16th, MarketBeat.com reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Koninklijke Philips N.V. in a report on Monday, July 24th. Natixis downgraded Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price target on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.50.

Koninklijke Philips N.V. (PHG) opened at 41.08 on Monday. The company’s 50 day moving average is $41.08 and its 200 day moving average is $37.38. The stock has a market cap of $38.49 billion, a PE ratio of 21.74 and a beta of 1.36. Koninklijke Philips N.V. has a 12 month low of $28.19 and a 12 month high of $42.35.

Koninklijke Philips N.V. (NYSE:PHG) last announced its earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). Koninklijke Philips N.V. had a return on equity of 7.19% and a net margin of 6.67%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue was down 29.7% on a year-over-year basis. On average, analysts anticipate that Koninklijke Philips N.V. will post $1.95 EPS for the current fiscal year.

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In other news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $1.50, for a total transaction of $5,001,879.00. Following the completion of the sale, the insider now owns 29,693,444 shares in the company, valued at approximately $44,540,166. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several institutional investors and hedge funds have recently made changes to their positions in PHG. YorkBridge Wealth Partners LLC raised its position in shares of Koninklijke Philips N.V. by 8.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,783 shares of the technology company’s stock valued at $135,000 after purchasing an additional 309 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Koninklijke Philips N.V. by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock valued at $191,000 after acquiring an additional 374 shares in the last quarter. IFP Advisors Inc raised its position in shares of Koninklijke Philips N.V. by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 5,454 shares of the technology company’s stock valued at $195,000 after acquiring an additional 706 shares in the last quarter. Whittier Trust Co. raised its position in shares of Koninklijke Philips N.V. by 243.7% during the 3rd quarter. Whittier Trust Co. now owns 4,781 shares of the technology company’s stock valued at $197,000 after acquiring an additional 3,390 shares in the last quarter. Finally, Park National Corp OH acquired a new stake in shares of Koninklijke Philips N.V. during the 3rd quarter valued at approximately $201,000. 7.56% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Koninklijke Philips N.V. (NYSE:PHG)

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