PHG - Koninklijke Philips N.V.

Is Koninklijke Philips (PHG) Stock Undervalued Right Now?

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.

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Tests clear recalled Philips sleep apnoea machines of health risks -company

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.

Philips shareholders deal snub to board over 2022 turmoil

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.

Philips will continue to deliver hospital equipment to Russia, CEO says

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."

Is NuVasive (NUVA) a Great Value Stock Right Now?

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.

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  Are Investors Undervaluing The Kroger Co. (KR) Right Now?

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Philips' (PHG) Q1 Earnings Jump Y/Y on Strong Top-Line Growth

Philips' (PHG) first-quarter results benefit from robust performances by the Diagnosis & Treatment and the Connected Care businesses.

Why Shares of Royal Philips Jumped Monday

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.

Philips stock rises on Q1 earnings beat

Yahoo Finance Live anchors Julie Hyman and Brad Smith break down the rise in stock for Philips following first-quarter earnings.

Coca-Cola Saw a Nice Pop, but This Healthcare Stock Was Monday's Big Early Winner

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.

Philips shares jump on recall provision and profit improvement

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.

Philips (PHG) Drives Healthcare Prospects With Enhanced Dataset

Philips (PHG) announces its expansion with MIT IMES, which will help researchers and educators access a new critical care dataset.

Oracle (ORCL) and Zoom Partner to Expand Access to Virtual Care

Oracle (ORCL) and Zoom enter a partnership to connect patients and their records with doctors seamlessly.

Philips (PHG) Inks 7-Year Partnership With Northwell Health

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.

Philips expects to reach recall settlements this year

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) Drives Health Care Prospects With New Solutions

Philips (PHG) announces Philips Virtual Care Management solutions, which provide a comprehensive approach to telehealth for patients, providers and payers.

AtriCure (ATRC) Moves 7.5% Higher: Will This Strength Last?

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 Dragged Down by Ever-Expanding Ventilator Recall

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.

Philips management will not receive bonuses for 2022

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.

Philips' (PHG) Q4 Earnings Down Y/Y, Supply Chain Issues Ease

Koninklijke Philips' (PHG) Q4 top and bottom-line results reflect easing supply chain constraints.

Baidu to launch AI chatbot, Toyota remains top-selling automaker, Philips initiates more layoffs

Notable business headlines include Baidu launching an AI chatbot, Toyota remaining the top-selling automaker, and Philips initiating more layoffs.

Europe stocks slip as hot Spanish inflation data fans rate hike concerns

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.

Philips to cut 13% of jobs in safety and profitability drive

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.