Koninklijke Philips (NYSE:PHG) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Koninklijke Philips (NYSE:PHG) in a research note issued to investors on Tuesday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating on the technology company’s stock.

Shares of Koninklijke Philips stock traded down $0.70 on Tuesday, hitting $46.86. The stock had a trading volume of 12,113 shares, compared to its average volume of 715,321. The company has a 50 day moving average of $44.22. Koninklijke Philips has a twelve month low of $32.98 and a twelve month high of $48.28. The company has a quick ratio of 0.85, a current ratio of 1.27 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $43.60 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.42 and a beta of 1.23.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.16. Koninklijke Philips had a return on equity of 13.79% and a net margin of 7.34%. The company had revenue of $4.71 billion during the quarter. On average, equities analysts anticipate that Koninklijke Philips will post 2.14 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in PHG. Cornerstone Advisors Inc. boosted its holdings in Koninklijke Philips by 130.6% in the first quarter. Cornerstone Advisors Inc. now owns 611 shares of the technology company’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Legacy Advisors LLC bought a new stake in Koninklijke Philips in the first quarter valued at approximately $37,000. Destination Wealth Management boosted its holdings in Koninklijke Philips by 37.8% in the second quarter. Destination Wealth Management now owns 868 shares of the technology company’s stock valued at $38,000 after acquiring an additional 238 shares during the last quarter. Hanson McClain Inc. bought a new stake in Koninklijke Philips in the first quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC boosted its holdings in Koninklijke Philips by 36.4% in the second quarter. Lindbrook Capital LLC now owns 1,026 shares of the technology company’s stock valued at $44,000 after acquiring an additional 274 shares during the last quarter. Institutional investors and hedge funds own 3.98% of the company’s stock.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.

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Analyst Recommendations for Koninklijke Philips (NYSE:PHG)

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