Koninklijke Philips (NYSE:PHG) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Koninklijke Philips (NYSE:PHGFree Report) from a buy rating to a strong-buy rating in a report published on Thursday morning.

Separately, BNP Paribas lowered shares of Koninklijke Philips from an outperform rating to an underperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $19.00.

Check Out Our Latest Research Report on PHG

Koninklijke Philips Stock Performance

PHG stock opened at $20.50 on Thursday. The firm has a market cap of $19.04 billion, a price-to-earnings ratio of -35.96, a PEG ratio of 0.95 and a beta of 0.90. The firm has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $21.14. Koninklijke Philips has a one year low of $15.63 and a one year high of $24.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.20.

Hedge Funds Weigh In On Koninklijke Philips

Several hedge funds and other institutional investors have recently modified their holdings of PHG. Raymond James Financial Services Advisors Inc. raised its position in shares of Koninklijke Philips by 4.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,411 shares of the technology company’s stock valued at $501,000 after purchasing an additional 771 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Koninklijke Philips by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 62,767 shares of the technology company’s stock valued at $1,916,000 after purchasing an additional 1,414 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Koninklijke Philips in the 1st quarter valued at approximately $311,000. Citigroup Inc. raised its position in shares of Koninklijke Philips by 1.3% in the 1st quarter. Citigroup Inc. now owns 36,882 shares of the technology company’s stock valued at $1,126,000 after purchasing an additional 483 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Koninklijke Philips by 9.9% in the 1st quarter. Bank of Montreal Can now owns 94,798 shares of the technology company’s stock valued at $3,002,000 after purchasing an additional 8,515 shares during the last quarter. 6.64% of the stock is owned by hedge funds and other institutional investors.

About Koninklijke Philips

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Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company 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; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.

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