Koninklijke Philips (NYSE:PHG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Koninklijke Philips (NYSE:PHG) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.

Koninklijke Philips Stock Performance

Shares of NYSE:PHG opened at $25.84 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 1.16. Koninklijke Philips has a 52 week low of $19.49 and a 52 week high of $32.91. The firm has a 50 day simple moving average of $30.05 and a 200 day simple moving average of $28.28.

Institutional Investors Weigh In On Koninklijke Philips

Hedge funds have recently made changes to their positions in the company. Creative Planning increased its stake in Koninklijke Philips by 39.3% in the 3rd quarter. Creative Planning now owns 84,263 shares of the technology company’s stock valued at $2,757,000 after buying an additional 23,768 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Koninklijke Philips by 12.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,515 shares of the technology company’s stock valued at $668,000 after buying an additional 3,040 shares during the period. International Assets Investment Management LLC acquired a new position in Koninklijke Philips in the 3rd quarter valued at approximately $1,360,000. Sanctuary Advisors LLC acquired a new position in Koninklijke Philips in the 2nd quarter valued at approximately $1,253,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Koninklijke Philips in the 2nd quarter valued at approximately $217,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also 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.