Koninklijke Philips (NYSE:PHG) Sees Large Decline in Short Interest

Koninklijke Philips (NYSE:PHG) was the recipient of a significant decline in short interest during the month of 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 short-interest ratio is presently 2.5 days. Approximately 0.2% of the shares of the company are sold short.

Koninklijke Philips Stock Performance

Shares of NYSE:PHG traded down $0.17 during trading hours on Tuesday, hitting $25.24. The stock had a trading volume of 597,039 shares, compared to its average volume of 870,834. The stock’s fifty day simple moving average is $26.69 and its 200 day simple moving average is $27.47. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of -30.04, a PEG ratio of 0.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. Koninklijke Philips has a 1-year low of $19.22 and a 1-year high of $32.91.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.10 billion. Sell-side analysts anticipate that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a $0.886 dividend. The ex-dividend date is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips’s dividend payout ratio is presently -89.29%.

Hedge Funds Weigh In On Koninklijke Philips

Several large investors have recently bought and sold shares of PHG. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Koninklijke Philips by 9.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,003 shares of the technology company’s stock valued at $2,507,000 after acquiring an additional 8,526 shares in the last quarter. Forum Financial Management LP boosted its stake in Koninklijke Philips by 18.0% during the 4th quarter. Forum Financial Management LP now owns 11,703 shares of the technology company’s stock valued at $296,000 after purchasing an additional 1,784 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Koninklijke Philips during the 4th quarter valued at $114,000. Vise Technologies Inc. raised its stake in shares of Koninklijke Philips by 50.9% in the 4th quarter. Vise Technologies Inc. now owns 14,224 shares of the technology company’s stock worth $360,000 after buying an additional 4,795 shares in the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Koninklijke Philips by 6.4% in the 4th quarter. Vident Advisory LLC now owns 36,788 shares of the technology company’s stock worth $932,000 after buying an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

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

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.