Koninklijke Philips NV (NYSE:PHG) Short Interest Down 8.7% in August

Koninklijke Philips NV (NYSE:PHG) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 957,400 shares, a decrease of 8.7% from the July 31st total of 1,048,700 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 610,000 shares, the days-to-cover ratio is presently 1.6 days.

Several research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Koninklijke Philips in a report on Tuesday, July 30th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Koninklijke Philips in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.00.

Shares of PHG traded up $0.20 during mid-day trading on Friday, hitting $47.77. 816,314 shares of the company’s stock were exchanged, compared to its average volume of 439,984. Koninklijke Philips has a 52 week low of $32.98 and a 52 week high of $48.28. The stock’s 50-day simple moving average is $46.65 and its 200-day simple moving average is $42.62. The firm has a market cap of $44.06 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 1.27 and a debt-to-equity ratio of 0.40.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, July 22nd. The technology company reported $0.49 EPS for the quarter. Koninklijke Philips had a net margin of 7.34% and a return on equity of 13.79%. The company had revenue of $5.25 billion for the quarter. Analysts forecast that Koninklijke Philips will post 2.14 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of PHG. Parametric Portfolio Associates LLC boosted its position in Koninklijke Philips by 1.9% in the first quarter. Parametric Portfolio Associates LLC now owns 669,877 shares of the technology company’s stock valued at $27,371,000 after buying an additional 12,670 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Koninklijke Philips by 7.7% in the first quarter. Pittenger & Anderson Inc. now owns 49,000 shares of the technology company’s stock valued at $2,002,000 after buying an additional 3,500 shares in the last quarter. Galibier Capital Management Ltd. boosted its position in Koninklijke Philips by 0.5% in the second quarter. Galibier Capital Management Ltd. now owns 48,926 shares of the technology company’s stock valued at $2,132,000 after buying an additional 243 shares in the last quarter. GYL Financial Synergies LLC acquired a new stake in Koninklijke Philips in the first quarter valued at approximately $421,000. Finally, Natixis Advisors L.P. boosted its position in Koninklijke Philips by 12.0% in the second quarter. Natixis Advisors L.P. now owns 217,897 shares of the technology company’s stock valued at $9,496,000 after buying an additional 23,430 shares in the last quarter. Institutional investors and hedge funds own 4.12% of the company’s stock.

Koninklijke Philips Company Profile

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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