Koninklijke Philips (NYSE:PHG) Earns Sector Perform Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips (NYSE:PHG) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a sector perform rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Koninklijke Philips in a research note on Monday. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Koninklijke Philips Trading Up 0.8%

Shares of NYSE:PHG opened at $26.70 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 0.86. Koninklijke Philips has a 1 year low of $21.48 and a 1 year high of $29.54. The company has a market cap of $25.71 billion, a P/E ratio of 133.51, a PEG ratio of 0.71 and a beta of 0.79. The stock’s fifty day moving average price is $27.73 and its 200-day moving average price is $26.59.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%.The company had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.30 billion. Sell-side analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current year.

Hedge Funds Weigh In On Koninklijke Philips

Hedge funds have recently modified their holdings of the stock. First Affirmative Financial Network grew its stake in Koninklijke Philips by 5.1% during the third quarter. First Affirmative Financial Network now owns 11,418 shares of the technology company’s stock valued at $311,000 after acquiring an additional 550 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Koninklijke Philips during the 3rd quarter valued at about $401,000. Morningstar Investment Management LLC purchased a new position in shares of Koninklijke Philips during the third quarter valued at about $5,434,000. XTX Topco Ltd increased its holdings in shares of Koninklijke Philips by 6.2% in the third quarter. XTX Topco Ltd now owns 31,246 shares of the technology company’s stock worth $852,000 after purchasing an additional 1,825 shares during the last quarter. Finally, United Capital Financial Advisors LLC purchased a new stake in shares of Koninklijke Philips in the third quarter worth about $213,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.