Previous close | 19.13 |
Open | 19.42 |
Bid | 19.24 x 2900 |
Ask | 19.76 x 1800 |
Day's range | 19.39 - 19.51 |
52-week range | 11.75 - 26.05 |
Volume | |
Avg. volume | 1,475,419 |
Market cap | 17.206B |
Beta (5Y monthly) | 0.84 |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 12 May 2022 |
1y target est | N/A |
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
AMSTERDAM (Reuters) -Dutch medical devices maker Philips said on Tuesday that independent tests have shown that the use of its respiratory devices involved in a major global recall did not cause health risks for patients. Philips said "rigorous testing" by external parties on the range of DreamStation machines used to treat sleep apnoea showed positive results, confirming preliminary results released last year. "We are very pleased with these results, it is very important for patients to know that the use of the devices did not lead to a health risk", Philips Chief Executive Roy Jakobs told Reuters in a phone interview.
Proxy advisory firms Institutional Shareholder Services and Glass Lewis had advised investors to vote against discharging the board before the annual shareholder meeting in Amsterdam. The Dutch association of shareholders VEB said its vote against was mainly a way to show its discontent with how former CEO Frans van Houten handled the fallout from the recall. In a surprise move by the board, Van Houten was replaced by current CEO Roy Jakobs in October last year, several months before the end of his term.
Dutch health technology company Philips will continue to deliver hospital equipment to Russia, despite its war on Ukraine, Chief Executive Officer Roy Jakobs said on Tuesday. "The right to healthcare is universal, and we are part of the system delivering healthcare," Jakobs said at the company's annual shareholders meeting in Amsterdam. "We do this in Russia, as we do in Ukraine."
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Philips' (PHG) first-quarter results benefit from robust performances by the Diagnosis & Treatment and the Connected Care businesses.
Shares of Dutch medical equipment maker Royal Philips (NYSE: PHG) rose by more than 14% in early trading Monday after the company announced first-quarter earnings. Philips' stock had been lagging because of concerns over the recall of faulty ventilators and sleep apnea masks made by its subsidiary, Philips Respironics, as well as lawsuits connected to the recalls.
Yahoo Finance Live anchors Julie Hyman and Brad Smith break down the rise in stock for Philips following first-quarter earnings.
On Monday morning, it appeared based on stock index futures that markets would open with a modest move lower. One stock that many investors know quite well is Coca-Cola (NYSE: KO), and its latest earnings results came as a pleasant surprise for many who follow the beverage giant. Shares of Coca-Cola were higher by between 1% and 2% in premarket trading Monday morning.
By Peter Nurse
AMSTERDAM (Reuters) -Philips shares jumped 13% on Monday as the Dutch health technology company reported much better than expected first-quarter results and said it had set aside 575 million euros ($631 million) related to lawsuits over its recall of respiratory devices. Amsterdam-based Philips has been grappling with the fallout of the global recall of millions of respirators used to treat sleep apnoea since it was announced in June 2021 over worries that foam used in the machines could become toxic. The recall has knocked off around 70% of Philips' market value since then as investors feared the costs of a string of U.S. class-action lawsuits launched by patients who claim to have suffered economic losses due to the use of the device.
European stock markets edged lower Monday, with investors cautious at the start of a week that includes key economic releases as well as earnings from the region’s top lenders and big tech companies on Wall Street. This will be a key test for markets with investors on the lookout to see if strong gains in the tech sector so far this year are justified. Elsewhere, Philips (AS:PHG) stock soared over 10% as investors reacted positively to the Dutch health technology company booking a $630 million provision as part of a planned settlement in the U.S. over the recall of millions of devices that treat sleep apnea, with CEO Roy Jakobs calling this an "important step in addressing the litigation."
Philips (PHG) announces its expansion with MIT IMES, which will help researchers and educators access a new critical care dataset.
Oracle (ORCL) and Zoom enter a partnership to connect patients and their records with doctors seamlessly.
Philips (PHG) announces that it has entered into a seven-year agreement with Northwell Health, one of the largest healthcare providers in the state of New York.
Dutch health technology company Philips expects to reach settlements this year relating to its global recall of respiratory devices, CEO Roy Jakobs said in an interview with Dutch financial daily FD published on Thursday. "I think we can at least reach a settlement on economic damages this year," Jakobs said without giving details on the expected costs. Jakobs added he "hopes and expects" to also reach a settlement with the U.S. Food and Drug Administration this year.
Philips (PHG) announces Philips Virtual Care Management solutions, which provide a comprehensive approach to telehealth for patients, providers and payers.
AtriCure (ATRC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Royal Philips (NYSE: PHG) is promising a turnaround from its bottom-line woes, which began with one of the largest medical devices recalls in recent history. Two major factors explain the softness in Royal Philips' 2022 results: the ever-expanding recall of its subsidiary Philips Respironics' ventilators and sleep apnea masks, and continuing supply chain problems in the wake of the COVID-19 pandemic. There may be little the Netherlands-based company can do about component shortages, but the high-profile issues it faces due to defective sound abatement (noise reduction) foam in its breathing devices have no clear end.
AMSTERDAM (Reuters) -Dutch health technology company Philips' top management will not take any bonuses for 2022 after a global recall of respiratory devices resulted in a 70% plunge in the company's market value, it said on Tuesday. Given the company's performance and negative experience of shareholders and other stakeholders, the current management board has waived any 2022 annual incentive payouts, the company said in its annual report. "2022 was a very disappointing year for Philips and its stakeholders," it said.
Koninklijke Philips' (PHG) Q4 top and bottom-line results reflect easing supply chain constraints.
Notable business headlines include Baidu launching an AI chatbot, Toyota remaining the top-selling automaker, and Philips initiating more layoffs.
European shares slipped on Monday as hotter-than-expected inflation data from Spain added to market jitters as investors brace for a slew of interest rate hikes from prominent central banks later in the week. Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points (bps) to 4.50%-4.75% on Wednesday, while the European Central Bank (ECB) and the Bank of England (BoE) are seen raising rates by 50 bps each to 2.50% and 4.0%, respectively, on Thursday. Eurozone bond yields climbed after preliminary data showed Spain's consumer prices rose by a greater-than-expected 5.8% year-on-year in January.
AMSTERDAM (Reuters) -Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. The new reorganisation brings the total amount of job cuts announced by new Chief Executive Roy Jakobs in recent months to 10,000, or around 13% of Philips' current workforce. Philips shares traded up 5.5% at 0855 GMT, helped by fourth-quarter earnings which were much better than expected.