Koninklijke Philips (NYSE:PHG) Sees Significant Drop in Short Interest

Koninklijke Philips (NYSE:PHG) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,860,000 shares, a decline of 21.2% from the February 28th total of 2,360,000 shares. Based on an average daily volume of 732,800 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.2% of the shares of the stock are short sold.

Koninklijke Philips Trading Down 0.6 %

Shares of NYSE:PHG traded down $0.17 during mid-day trading on Tuesday, hitting $25.24. The stock had a trading volume of 597,039 shares, compared to its average volume of 870,834. Koninklijke Philips has a 12-month low of $19.22 and a 12-month high of $32.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. The company has a market cap of $23.72 billion, a PE ratio of -30.04, a P/E/G ratio of 0.82 and a beta of 0.78. The company’s 50 day moving average is $26.69 and its 200-day moving average is $27.47.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, sell-side analysts predict that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.886 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips’s dividend payout ratio (DPR) is presently -89.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PHG. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Koninklijke Philips has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Koninklijke Philips

Large investors have recently made changes to their positions in the business. Colonial Trust Co SC increased its stake in Koninklijke Philips by 724.0% in the 4th quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company’s stock valued at $36,000 after buying an additional 1,238 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Koninklijke Philips in the third quarter worth $54,000. Farther Finance Advisors LLC raised its holdings in shares of Koninklijke Philips by 37.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock worth $54,000 after acquiring an additional 582 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Koninklijke Philips during the fourth quarter valued at $55,000. Finally, Millstone Evans Group LLC purchased a new position in Koninklijke Philips in the fourth quarter valued at about $60,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

About Koninklijke Philips

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.