Sanford C. Bernstein initiated coverage on shares of Koninklijke Philips (NYSE:PHG) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating on the technology company’s stock.
Several other research analysts have also recently weighed in on PHG. Zacks Investment Research cut shares of Koninklijke Philips from a buy rating to a hold rating in a report on Tuesday, June 26th. ValuEngine raised shares of Koninklijke Philips from a hold rating to a buy rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Koninklijke Philips currently has a consensus rating of Buy and an average target price of $48.00.
Shares of PHG stock opened at $45.75 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $42.04 billion, a PE ratio of 36.90, a PEG ratio of 4.47 and a beta of 1.15. Koninklijke Philips has a 52-week low of $35.47 and a 52-week high of $46.09.
Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC bought a new position in Koninklijke Philips in the 2nd quarter valued at about $110,000. Shufro Rose & Co. LLC acquired a new position in shares of Koninklijke Philips during the 2nd quarter worth approximately $202,000. Park National Corp OH acquired a new position in shares of Koninklijke Philips during the 2nd quarter worth approximately $206,000. HRT Financial LLC acquired a new position in shares of Koninklijke Philips during the 2nd quarter worth approximately $206,000. Finally, Parsec Financial Management Inc. acquired a new position in shares of Koninklijke Philips during the 2nd quarter worth approximately $207,000. 4.87% of the stock is currently owned by hedge funds and other institutional investors.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.
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