45.80 0.00 (0.00%)
After hours: 4:15PM EDT
|Bid||43.11 x 800|
|Ask||48.22 x 900|
|Day's Range||45.25 - 45.83|
|52 Week Range||30.50 - 50.78|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||28.99|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 05, 2020|
|1y Target Est||53.85|
Koninklijke Philips (PHG) said it has received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its monitors and displays to be used for Covid-19 patients in U.S. hospitals.The technology company said the emergency use authorization is for its IntelliVue Patient Monitors MX750 and MX850 as well as its IntelliVue Active Displays AD75 and AD85. The patient monitoring products help to collate infection-control protocols and remotely provide patient information for caregivers, which are much needed when caring for hospitalized COVID-19 patients, the company said.The FDA authorization enables the company to start delivering the new remote patient monitoring products to U.S. hospitals. Patient monitors, which enable clinicians to remotely monitor a patient’s condition can help hospitals minimize staff exposure to the virus that causes COVID-19.“As the world continues to battle against COVID-19, we’re committed to ramping up production of all critical solutions that can help in this time of crisis,” said Peter Ziese, General Manager, Monitoring and Analytics at Philips. “This FDA EUA for our MX750 and MX850 monitors and IntelliVue AD75 and AD85 Active Displays allows us to do that for these remote patient monitoring solutions, which are of vital need in the intensive care unit.”Furthermore, Philips said it is significantly increasing its patient monitor production to address the demand for more intensive care unit (ICU) capacity.Shares in Philips, which slumped to a multi-year low in March have since been on a steady gaining streak, advancing some 44%. The stock was little changed at $45.72 in midday U.S. trading.Last month, Kepler Capital analyst David Cerdan maintained a Hold rating on the stock with a $37.85 price target. Meanwhile, DZ Bank analyst Elmar Kraus upgraded Philips to Buy from Hold with a $41.19 price target.Following the stock’s recent rally, the $39.52 average price target implies 14% downside potential in the shares in the coming 12 months. (See Philips stock analysis on TipRanks).Related News: Abiomed’s Heart Pump Gets FDA Emergency Use Status For Covid-19 Patients Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial More recent articles from Smarter Analyst: * National Instruments To Buy OptimalPlus In $365 Million Deal * Free Version of WWE Network Now Available for Fans * Bristol Myers Reveals Positive Results For Ulcerative Colitis Pivotal Trial * Pfizer Embarks On $500 Million Investment Plan For Biotech Businesses
June 2, 2020 Philips’ IntelliVue Patient Monitors MX750/MX850, IntelliVue 4-Slot Module Rack FMX-4 and IntelliVue Active Displays AD75/AD85 receive FDA Emergency Use.
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the company once again has earned a place on the Forbes "Global 2000: The World’s Largest Public Companies" list, moving up 46 spots from 2019. In its new 2020 position, the company now also ranks as one of the top ten global public healthcare companies. The annual list, which has been released for the past 18 years, features a ranking of the biggest, most powerful and most valuable companies in the world. Philips ranked 385 out of the 2,000 publicly traded companies on the full list.
Philips Foundation, with its mission to provide access to quality healthcare for disadvantaged communities through innovation, today announced publication of its 2019 Annual Report. The report outlines a year of substantial progress in providing access to quality healthcare for disadvantaged communities, capturing many of the activities that aim to achieve lasting change in local healthcare systems.
Philips is integrating additional Masimo monitoring technologies into select Philips multi-parameter patient monitors.
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its wearable biosensor (Philips Biosensor BX100) to help manage confirmed and suspected COVID-19 patients in the hospital. The next generation wireless wearable biosensor enhances clinical surveillance in the Philips patient deterioration detection solution to help clinicians detect risk so they can intervene earlier and help improve care for patients in lower acuity care areas.
May 19, 2020 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced Clinical Trial Accelerator on.
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market a wide range of its ultrasound solutions for the management of COVID-19-related lung and cardiac complications. Handheld and portable ultrasound solutions in particular have become valuable tools for clinicians treating COVID-19 patients due to their imaging capabilities, portability and ease of disinfection. As a result of this regulatory clearance, which is an industry first, Philips can provide detailed, practical guidance to support clinicians using its systems and software for patients affected by COVID-19.
Dutch electronics giant Philips signed a contract with the European Commission to supply medical ventilators to EU hospitals, the company and EU officials said, in a deal that comes as most EU countries reached the peak of the COVID-19 outbreak. Other companies have signed similar contracts with the European Union as part of a joint procurement scheme the Commission launched in March on behalf of 25 EU states.
Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will convene an Extraordinary General Meeting of Shareholders (EGM) and publish the agenda with explanatory note shortly. The sole purpose of the EGM is submit to Philips’ shareholders the revised proposal, as announced on April 20, 2020, to declare a distribution of EUR 0.85 per common share against the net income for 2019, in shares only. To protect the health and safety of all participants in connection with COVID-19 and considering the temporary legislative measures from the Dutch government, shareholders are invited to submit their voting instructions and follow the meeting via the live webcast only, which will be available on Philips’ website.
May 6, 2020 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the ultimate ultrasound solution.
U.S. weapons makers have teamed up with medical device companies to increase the supply of ventilators that can be used to combat the coronavirus pandemic, people working on the project said. The two groups do not regularly partner on projects, but when a defense industry consultant with an engineering background realized weapons makers could help solve supply-chain problems within the U.S. ventilator industry, the creation of Vent Connect was set in motion and is set to be announced on Monday, the people said. The idea gathered momentum when industry associations like the Aerospace Industries Association, which represents plane makers and defense contractors including Lockheed Martin Corp and General Dynamics Corp, teamed up with AdvaMed, the Advanced Medical Technology Association, whose members include vent manufacturers.
April 30, 2020 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) announced that today’s Annual General Meeting of Shareholders (2020 AGM) has approved the.
Moody's Investors Service, ("Moody's") has today assigned a Baa3 rating to Signify N.V. (Signify) proposed issue of Euro-denominated floating and fixed rate senior unsecured notes. Moody's assesses Signify's liquidity profile as good.
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, announced today that its Emergency Care and Resuscitation (ECR) business is resuming manufacturing and shipping of external defibrillators for the US, following notification from the US Food and Drug Administration (FDA) that the injunction prohibiting those activities has been lifted. This business has been operating under a consent decree with the FDA since November 2017. Under the terms of the consent decree, Philips was required to suspend manufacture and distribution of its defibrillators from specific Philips facilities in the U.S., pending FDA certification via inspection of the facilities’ compliance with Quality System Regulation.
The Trump administration, under pressure to do more to ramp up coronavirus testing in order to safely reopen the battered U.S. economy, is highlighting this week a $2.9 billion program to build 187,000 ventilators this year. The administration's ventilator surge is accelerating as medical experts are forecasting the need for the devices - used to help severely ill COVID-19 patients breathe - will fall. Many of the ventilators will now be sent to other countries in need, the administration says.
WNEW YORK, NY / ACCESSWIRE / April 20, 2020 / Koninklijke Philips NV (NYSE:PHG) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 20, 2020 at 10:00 ...
European stocks started higher on Monday, continuing the rally from coronavirus lows, on data showing the disease’s spread is slowing.
Koninklijke Philips (PHG) on Monday withdrew its outlook for this year, as the Dutch health technology company saw its first-quarter earnings hit hard by the impact of the global coronavirus outbreak.Looking ahead Philips is warning investors that the second quarter is poised to be even worse. In the first quarter, net income slumped to 39 million euros ($42.4 million) from 162 million euros during the same period last year. Earnings before interest, taxes and amortization (EBITA) dropped 33% to 244 million euros ($265 million), while comparable sales declined 2% to 4.15 billion euros.“The impact of COVID-19 gradually increased in the course of the first quarter, initially affecting our businesses in China and Asia Pacific starting late January, and subsequently affecting our businesses in the rest of the world from March onwards,” Philips Chief Executive Frans van Houten said. “On that basis, we expect that all our geographies will be impacted throughout the second quarter.”Van Houten added that the technology company sees a steep revenue decline in its personal health products such as touthbrushes and shavers, and a sizable high-single-digit decline for its diagnosis & treatment businesses. The expected declines are poised to be partly offset by a “significant” increase in revenue of its connected care businesses.The outbreak of the coronavirus pandemic has boosted global demand for Philips’ ventilators, scanners and other hospital equipment.Van Houten said that Philips was aiming to return to growth and improved profitability in the second half of the year. For the full year 2020, the company seeks to achieve a modest comparable sales growth and adjusted EBITA margin improvement.“Given the current uncertainty and volatility, we will not provide more specific guidance for 2020 at this time,” Van Houten said.Philips has previously given annual 2020 guidance for a 4%-6% advance in comparable sales and a 100 basis-point improvement in its profit margin.Wall Street analysts have a Moderate Buy consensus rating on the stock based on 2 Buys and 1 Hold. Meanwhile, the $38.55 average price target projects potential downside of 6.3% in the shares in the coming 12 months. (See Philips stock analysis on TipRanks).Related News: Novartis Buys U.S. Start-Up Amblyotech For Lazy Eye Treatment China Development Bank, General Electric Cancel Boeing 737 MAX Jet Order Debt-Laden Chesapeake Energy Scraps Dividend After Reverse Stock Split More recent articles from Smarter Analyst: * 3 Bargain Cannabis Stocks to Own as the U.S. Economy Reopens * Just Wait for the Dip to Buy AMD Stock, Says 5-Star Analyst * President Trump Asked If "Light inside the Body" Could Cure COVID-19 -- and This Company Wants to Give It a Try * JPMorgan: 2 High-Yield Dividend Stocks to Snap Up (And 1 to Avoid)
European stocks opened higher on Monday, gaining about 0.4% in early action. The Stoxx Europe 600 has climbed 7.9% over the last two weeks on optimism over the slowing spread of the coronavirus and the gradual reopening of economies. Vivendi and Philips each rose after reporting first-quarter results. U.S. stock futures slipped after the powerful Wall Street rally on Friday.
European shares edged higher on Monday as coronavirus deaths slowed in hotspots Italy and Spain, but the mood remained cautious with companies preparing to report their worst quarterly earnings since the 2008 financial crisis. The pan-European STOXX 600 index was up 0.4% at 0701 GMT, after ending Friday with its biggest two-week percentage gain since 2015.
Sales and profit margins at Dutch health technology company Philips <PHG.AS> could still rise this year, provided the coronavirus pandemic eases in the coming months and hospitals are able to restart elective operations, it said on Monday. The optimism contrasts with the gloom engulfing much of the corporate world as lockdowns to contain the pandemic hammer business, and partly reflects strong orders for Philips' medical ventilators used for treating the sickest coronavirus patients. The electric toothbrush to hospital scanners maker scrapped its previous 2020 forecasts for 4-6% comparable sales growth and a 100 basis point improvement in operating profit margin, as the disruption from the health crisis hit first-quarter results and it warned the second quarter could be even worse.
At Philips, we are focused on our triple duty of care: meeting critical customer needs, safeguarding the health and safety of our employees, and ensuring business continuity. There was increased demand for our professional healthcare products and solutions, with comparable sales and order intake growth for the Connected Care and Diagnosis & Treatment businesses. This resulted in a 2% comparable sales decrease and an Adjusted EBITA margin of 5.9% for the Group.
April 15, 2020 Academic medical center leverages Philips tele-ICU technology to enhance clinician experience and help improve outcomes for ICU patients in Kentucky.