Short Interest in Koninklijke Philips (NYSE:PHG) Drops By 25.3%

Koninklijke Philips (NYSE:PHG) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 1,680,000 shares, a decrease of 25.3% from the November 30th total of 2,250,000 shares. Based on an average trading volume of 756,600 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Koninklijke Philips

A number of large investors have recently added to or reduced their stakes in PHG. Fairscale Capital LLC bought a new position in Koninklijke Philips in the 2nd quarter worth about $54,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Koninklijke Philips during the third quarter worth about $54,000. Eastern Bank purchased a new position in shares of Koninklijke Philips in the third quarter worth $88,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Koninklijke Philips in the third quarter worth about $107,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Koninklijke Philips by 182.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,657 shares of the technology company’s stock valued at $143,000 after purchasing an additional 3,654 shares during the last quarter. Institutional investors own 13.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PHG. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Koninklijke Philips Stock Performance

PHG traded down $0.20 on Friday, hitting $25.57. The company’s stock had a trading volume of 384,605 shares, compared to its average volume of 930,287. Koninklijke Philips has a 12 month low of $19.55 and a 12 month high of $32.91. The company’s 50 day simple moving average is $26.78 and its 200-day simple moving average is $28.10. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $24.03 billion, a P/E ratio of -60.88, a price-to-earnings-growth ratio of 0.92 and a beta of 0.76.

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.