Koninklijke Philips N.V. operates as a health technology company in North America, Greater China, and internationally. It operates through Diagnosis & Treatment, Connected Care, and Personal Health segments. It provides magnetic resonance imaging, computed tomography, advanced molecular imaging, diagnostic X-ray, and imaging components as well as integrated clinical solutions; integrated interventional systems, including interventional diagnostic and therapeutic devices; imaging products focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services. The company also offers monitoring and analytics solutions; sleep and respiratory care solutions; emergency care and resuscitation, and patient management solutions; data, analytics, and actionable workflow solutions; and connected care informatics solutions. In addition, it provides power toothbrushes, brush heads, and interdental cleaning and teeth whitening products; infant feeding and digital parental solutions; male grooming and beauty products and solutions; and kitchen appliances, home care, and garment care products, as well as coffee machines. Koninklijke Philips N.V. has a partnership with openDoctor to deliver an integrated radiology patient engagement platform that leverages openDoctor's real-time online appointment scheduling services as part of its patient management solution; and a strategic collaboration with Ibex Medical Analytics Ltd. to jointly promote the digital pathology and AI solutions to hospitals, health networks, and pathology laboratories worldwide. The company was formerly known as Koninklijke Philips Electronics N.V. and changed its name to Koninklijke Philips N.V. in May 2013. Koninklijke Philips N.V. was founded in 1891 and is headquartered in Amsterdam, the Netherlands.
IPO Year:
Exchange: NYSE
Website: philips.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
5/13/2024 | Mkt Perform → Outperform | Bernstein | |
5/7/2024 | Underperform → Neutral | Exane BNP Paribas | |
4/30/2024 | Sell → Neutral | UBS | |
4/30/2024 | Underweight → Neutral | JP Morgan | |
2/7/2024 | Outperform → Underperform | Exane BNP Paribas | |
7/12/2023 | Buy | Goldman | |
1/17/2023 | Neutral → Sell | UBS | |
10/18/2022 | Equal-Weight | Morgan Stanley | |
10/14/2022 | Hold → Sell | Deutsche Bank | |
9/12/2022 | Hold → Buy | Societe Generale |
Bernstein upgraded Philips from Mkt Perform to Outperform
Exane BNP Paribas upgraded Philips from Underperform to Neutral
UBS upgraded Philips from Sell to Neutral
JP Morgan upgraded Philips from Underweight to Neutral
Exane BNP Paribas downgraded Philips from Outperform to Underperform
Goldman initiated coverage of Philips with a rating of Buy
UBS downgraded Philips from Neutral to Sell
Morgan Stanley initiated coverage of Philips with a rating of Equal-Weight
Deutsche Bank downgraded Philips from Hold to Sell
Societe Generale upgraded Philips from Hold to Buy
Patient monitoring platform to deliver tools and time to help patients across 40+ care sitesRoyal Philips (NYSE:PHG, AEX: PHIA))))) a global leader in health technology and Bon Secours Mercy Health (BSMH), one of the nation's largest Catholic health systems, today announced a multi-year strategic collaboration for patient monitoring. Putting BSMH clinicians in control, the collaboration will reduce the digital burden on staff and give them more time to spend with patients.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240716028105/en/The partnership provides access to the latest Philips monitoring innovations, including a scalable
- Reuters
Royal Philips NV (NYSE:PHG) shares are trading higher on Wednesday. Italy's famous Agnelli family has increased its investment in Philips, showcasing a robust vote of confidence in the Dutch firm known for its medical devices. Through Exor NV, the family's holding company, the Agnellis now controls 17.51% of Philips, enhancing their position as the company's largest shareholder, an increase from 16.1% recorded in May. This expansion in their stake is indicative of growing trust in Philips' market prospects and management following the recent resolution of legal issues in the U.S., reported Bloomberg. Philips reached a $1.1 billion settlement in the U.S. related to the recall of its
Intuitive motorization for greater control and high-power (25 kW [1]) for state-of-the-art image quality supports complex vascular needs and a full range of clinical proceduresAutomated workflows contribute to greater flexibility and independence for clinicians, providing more time to focus on achieving the best possible outcomes for patientsAmsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))))), a global leader in health technology, today announced the launch of Philips Image Guided Therapy Mobile C-arm System 9000 – Zenition 90 Motorized, designed to help clinicians deliver high-quality care to more patients. Philips is partnering with its customers to improve productivity. T
Sanger Heart & Vascular Institute, Atrium Health, treated the first patient with the new implantable medical device following FDA premarket approvalAmsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))))), a global leader in health technology, today announced the first implant of the Duo Venous Stent System, an implantable medical device indicated to treat symptomatic venous outflow obstruction in patients with chronic venous insufficiency (CVI), following premarket approval (PMA) from the U.S. Food and Drug Association (FDA).
Three studies demonstrate how Philips MCOT wearable ambulatory monitoring ECG and proprietary AI models applied to ECG digital biomarkers can help to improve diagnosis, reduce readmissions, and lower costs
Koninklijke Philips N.V. (NYSE:PHG) has reportedly taken legal action against SoClean to allocate a portion of the recent $1.1 billion settlement concerning alleged injuries caused by Philips’ recalled devices. In June 2021, Philips initiated a voluntary recall notification for certain CPAP and BiPAP sleep therapy devices and ventilators related to the polyester-based polyurethane (PE-PUR) sound abatement foam in these devices that were harmful to the users. Last month, the Dutch medical technology firm reached a $1.1 billion settlement in the U.S. related to the recall of its Respironics ventilators. SoClean is known for its ozone-based cleaning systems for breathing devices, Reut
Bernstein analyst Lisa Bedell Clive upgrades Koninklijke Philips (NYSE:PHG) from Market Perform to Outperform.
- Reuters
Enhanced longer version of Philips LumiGuide Navigation Wire enables US clinicians to visualize a broader range of catheters Internationally recognized vascular surgeon Carlos Timaran, MD, was the first to use the new LumiGuide wire to perform a complex aortic repair, Procedure marks the world's 1000th procedure assisted by Philips' unique Fiber Optic RealShape (FORS) guidance technology Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced the introduction of the 160cm FDA approved version of its unique LumiGuide endovascular navigation wire. This enhanced LumiGuide guidewire, which utilizes the company's breakthro
September 10, 2024 Joint policy paper provides recommendations for effective policymaking and investments in stroke centers with specialized treatments to improve health outcomes and reduce costsTimely access to mechanical thrombectomy – a proven minimally invasive therapy to remove the blood clot that caused the stroke – has the potential to revolutionize treatment for major ischemic strokes, but the procedure remains the exception rather than the norm Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, and the World Stroke Organization (WSO), the world's only global non-governmental organization focused on stroke, today published a
August 20, 2024 Integrated Philips cardiovascular solutions enhance the patient & staff experience with reduced X-ray dose & procedure time for more time with patients and to help improve outcomes New facility will have 11 specialized Philips interventional suites, allowing physicians to treat patients with complex cardiovascular conditions closer to home Amsterdam, The Netherlands and Roanoke, US – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, and Carilion Clinic, a not-for-profit health care organization serving more than one million people in the States of Virginia and West Virginia, today announced Carilion will adopt the Philips cardiovascular care ecosy
Integrated Philips cardiovascular solutions enhance the patient & staff experience with reduced X-ray dose & procedure time for more time with patients and to help improve outcomes Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, and Carilion Clinic, a not-for-profit health care organization serving more than one million people in Virginia and West Virginia, today announced Carilion will adopt the Philips cardiovascular care ecosystem of solutions at the future home of its Cardiovascular Institute at Crystal Spring Tower. Carilion will have 11 specialized Philips interventional suites, allowing physicians to treat patients with complex cardiovascular conditions
August 13, 2024 Amsterdam, The Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, and Isala hospital (Zwolle, The Netherlands) have renewed their long-term strategic partnership to enhance healthcare delivery through innovative and cost-effective solutions. This collaboration aims to ensure healthcare remains accessible, available, and affordable by leveraging Philips' advanced technology, data analytics, and AI. Focusing on the radiology and cardiology departments, it follows a successful collaboration that began in 2012. The new agreement will last for five years, with an option to extend for another five years. Transforming healthcare
August 5, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) today announced that it will repurchase shares for an amount of up to EUR 125 million to cover certain of its obligations arising from its long-term incentive plans. At the current share price, this represents a total of approximately 4.8 million shares. The repurchases will be executed through a combination of forward transactions and open market purchases with a financial institution. Philips expects to take delivery of the forward share purchases in 2026. The open market purchases will be executed in Q3 2024 by an intermediary to allow for share purchases during both open and closed periods. All repurchase
July 29, 2024 Second-quarter highlights Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2%Comparable order intake increased by 9%Income from operations EUR 816 million, including EUR 538 million insurance income*)Adjusted EBITA margin increased to 11.1% of salesOperating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million Roy Jakobs, CEO of Royal Philips:"I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong margin improvement, supported by our productivity program, solid operational cashflow due to improved working capital m
July 3, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced the appointment of Ms Ling Liu as the Chief Region Leader of Philips Greater China, effective immediately. Ms Liu is now a member of Philips' Executive Committee, reporting to Philips CEO Roy Jakobs. She succeeds Andy Ho, who has decided to retire after a long and successful career. Ms Liu and Mr Ho continue to work together to ensure a smooth handover. "Ling is a talented, trusted leader and I am delighted that she will join Philips' Executive Committee as the Chief Region Leader of Philips Greater China," said Roy Jakobs, CEO of Royal Philips. "Sh
June 19, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) today announced that it has completed the cancellation of 4,437,164 of its shares. The cancelled shares were acquired as part of the completed EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021. Philips' current issued share capital amounts to EUR 187,987,876.80 representing 939,939,384 common shares. More information is available here. For further information, please contact: Ben ZwirsPhilips External RelationsTel.: +31 6 1521 3446E-mail: [email protected] Dorin DanuPhilips Investor Re
Workflow prioritization seen as biggest opportunity for automation while AI continues to gain traction; virtual care having a positive impact on easing staff shortages & increasing access to care The Future Health Index (FHI) survey conducted by Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, explores the ongoing staffing and access challenges within the US healthcare system and the innovative solutions being used to address them. The ninth annual report, Better care for more people, demonstrates the pressures of staffing shortages and burnout on clinicians and their ability to deliver timely, high-quality care to patients. It reveals how healthcare leaders ar
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July 3, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced the appointment of Ms Ling Liu as the Chief Region Leader of Philips Greater China, effective immediately. Ms Liu is now a member of Philips' Executive Committee, reporting to Philips CEO Roy Jakobs. She succeeds Andy Ho, who has decided to retire after a long and successful career. Ms Liu and Mr Ho continue to work together to ensure a smooth handover. "Ling is a talented, trusted leader and I am delighted that she will join Philips' Executive Committee as the Chief Region Leader of Philips Greater China," said Roy Jakobs, CEO of Royal Philips. "Sh
May 7, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), today announced that its shareholders approved all proposals at the Annual General Meeting of Shareholders (AGM) 2024, including: The re-appointment of Chairman Feike Sijbesma and Peter Löscher as members of the Supervisory Board.The appointment of Benoît Ribadeau-Dumas as member of the Supervisory Board.The appointment of Charlotte Hanneman as member of the Board of Management, with effect from October 1, 2024.The discharge of the members of the Board of Management and members of the Supervisory Board.A full overview of the resolutions taken at the AGM 2024 can be found below.
February 28, 2024 Proposal to appoint Ms. Hanneman as member of Philips' Board of Management fulfilling the role of CFO per October 1, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced the proposal to appoint Charlotte Hanneman as member of the Board of Management, fulfilling the role of Chief Financial Officer (CFO), effective October 1, 2024. The proposal will be submitted to the Annual General Meeting of Shareholders (AGM), to be held on May 7, 2024. Ms. Hanneman will join Philips as a member of Philips' Executive Committee on June 1, 2024, to start her induction and transition into the
SAN FRANCISCO, May 02, 2023 (GLOBE NEWSWIRE) -- Via Licensing Alliance LLC (Via LA), the collaborative licensing leader, announced today the appointment of three new members to its Board of Directors: Patrick Patnode, President of GE Licensing, an affiliate of General Electric Company (NYSE:GE); Jako Eleveld, Vice President and Head of IP Licensing at Koninklijke Philips N.V. (NYSE:PHG); and Keiko Higuchi, Senior Manager and Head of Patent Pools in the Corporate Licensing Division of the Mitsubishi Electric Corporation (TSE: 6503). Their appointment follows the conversion of partial ownership in MPEG LA to an ownership stake in Via LA by affiliates of GE, Philips, and Mitsubishi Electric i
March 13, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced the appointment of Julia Strandberg as the Chief Business Leader of its Connected Care businesses, effective April 24, 2023. Ms. Strandberg will become a member of Philips' Executive Committee reporting to Philips CEO Roy Jakobs. As of April 1, 2023, Philips' Connected Care businesses will comprise the Monitoring, Sleep & Respiratory Care and Enterprise Informatics businesses. Ms. Strandberg (American, 1974) joins Philips from Pear Therapeutics, where she served as the Chief Commercial Officer leading the commercial team that built, launched and
June 7, 2022 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today announced that Willem (Wim) Appelo will join Philips' Executive Committee, effective July 18, 2022, and succeed Sophie Bechu as Chief Operations Officer per October 1, 2022. Mr. Appelo will report to Philips CEO Frans van Houten and work closely with Mrs. Bechu to ensure a seamless transition. Mrs. Bechu, who joined Philips in 2016, will step down from her role on October 1, 2022, after which she will work on project-based initiatives until she retires at the end of January, 2023. Mr. Appelo (Dutch, 1964) will join Philips after having worked as interim Supply Chain
May 10, 2022 Philips' Supervisory Board takes note of the advisory vote on the 2021 Remuneration Report, will continue to engage with shareholders and consider the feedback received in its next remuneration report Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) announced that today's Annual General Meeting of Shareholders (2022 AGM) has approved the company's proposed dividend of EUR 0.85 per share over 2021, and appointed Mrs. Herna Verhagen and Mr. Sanjay Poonen and re-appointed Dr. Paul Stoffels and Dr. Marc Harrison as members of the Supervisory Board. All other binding voting items, such as the re-appointment of Ernst & Young Accountants LLP as the company's audito
MINNEAPOLIS, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. ("Tactile Medical") (NASDAQ:TCMD), a medical technology company focused on developing medical devices for the treatment of patients with underserved chronic diseases at home, today announced the appointment of Valerie L. Asbury and D. Brent Shafer to the Company's Board of Directors ("Board"), effective January 5, 2022. Ms. Asbury will serve as a member of both the Audit Committee and the Compliance & Reimbursement Committee. Mr. Shafer will serve as a member of the Audit Committee, the Compensation & Organization Committee, and the Nominating & Corporate Governance Committee. Three long-standing directors will
MINNEAPOLIS, April 20, 2021 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. ("Tactile Medical") (NASDAQ:TCMD), a medical technology company focused on developing medical devices for the treatment of chronic diseases at home, today announced the appointment of Eric Pauls to the position of Senior Vice President of Sales, effective May 1, 2021. Mr. Pauls will succeed Bryan Rishe, who is retiring in May. "Eric is a strategic leader with over 20 years of experience in the healthcare industry and a proven history of building scale and leading high-performance teams," said Dan Reuvers, President and Chief Executive Officer of Tactile Medical. "His career has been dedicated to establishin
February 23, 2021 Current Chairman Jeroen van der Veer and Vice-Chairwoman Mrs. Christine Poon to retire from Philips’ Supervisory Board after their third consecutive term, effective upon closing of the 2021 Annual General Meeting of ShareholdersMrs. Orit Gadiesh, Philips’ Supervisory Board member since 2014, to step down Philips’ Supervisory Board appoints Feike Sijbesma as its Chairman and Paul Stoffels as its Vice-ChairmanMrs. Chua Sock Koong and Mrs. Indra Nooyi to be proposed as new members of the Supervisory BoardPhilips Chief Legal Officer Marnix van Ginneken proposed for reappointment as a member of Philips’ Board of Management Amsterdam, the Netherlands – Royal Philips (NYSE: PH
July 29, 2024 Second-quarter highlights Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2%Comparable order intake increased by 9%Income from operations EUR 816 million, including EUR 538 million insurance income*)Adjusted EBITA margin increased to 11.1% of salesOperating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million Roy Jakobs, CEO of Royal Philips:"I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong margin improvement, supported by our productivity program, solid operational cashflow due to improved working capital m
May 15, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), today announced that the exchange ratio for the dividend for the year 2023 is 1 new common share for every 29.2684 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 9, 10 and 13, 2024, of EUR 24.8481 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 30,860,582 new common shares. Distribution of the dividend with delivery of new common shares and settlement of any fractions in cash, will take place from May 16, 2024. Upon distribution, the total i
March 22, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), today announced it has convened the Annual General Meeting of Shareholders (AGM) 2024 and published the agenda with explanatory notes. As previously announced, the agenda includes: Proposals to re-appoint Chairman Feike Sijbesma (Dutch, 1959) and Peter Löscher (Austrian, 1957) as members of the Supervisory Board, with effect from May 7, 2024.Proposal to appoint Charlotte Hanneman (Dutch, 1978) as member of the Board of Management, fulfilling the role of Chief Financial Officer, with effect from October 1, 202
July 24, 2023 Second-quarter highlights Group sales increased to EUR 4.5 billion, with 9% comparable sales growthIncome from operations amounted to EUR 221 million, compared to EUR 11 million in Q2 2022Adjusted EBITA increased to EUR 453 million, or 10.1% of sales, compared to EUR 216 million, or 5.2% of sales, in Q2 2022Order book continued to grow year-on-year, while comparable order intake declined following a high order intake in Q2 2022Operating cash flow improved to EUR 135 million, compared to an outflow of EUR 306 million in Q2 2022Simplification of the operating model and restructuring plans on trackOutlook for full year 2023 raised to mid-single-di
May 17, 2023Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) today announced that the exchange ratio for the dividend for the year 2022 is 1 new common share for every 22.3906 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 11, 12 and 15, 2023, of EUR 19.0020 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 39,334,938 new common shares. Distribution of the dividend with delivery of new common shares and settlement of any fractions in cash, will take place from May 18, 2023. Upon distribution, the total iss
May 9, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) announced that today's Annual General Meeting of Shareholders (2023 AGM) has reappointed Abhijit Bhattacharya for a two year's term as member of the Board of Management fulfilling the role of CFO, and reappointed Liz Doherty and David Pyott as members of the Supervisory Board. With these reappointments, the composition of the Supervisory Board committees remains unchanged. Other voting items, such the company's proposed dividend of EUR 0.85 per share over 2022, [1] the proposal to reappoint EY as the company's external auditor for a term of one year starting January 1, 2024, and the proposal to appoint Pr
March 24, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))) today announced it has convened the Annual General Meeting of Shareholders (AGM) 2023 and published the agenda with explanatory notes. The agenda of the AGM 2023 includes the recommendation of the Supervisory Board, endorsed by Philips' Chief Executive Officer to the shareholders to re-appoint Abhijit Bhattacharya (Indian, 1961) as member of the Board of Management for an additional period of two years, with effect from May 9, 2023. Mr Bhattacharya has held the positions of Chief Financial Officer and member of the Board of Management since 2015. Additionally, it will be proposed to the sharehol
January 30, 2023 Fourth-quarter highlights Group sales amounted to EUR 5.4 billion, with 3% comparable sales growth driven by component supply improvements, while Philips' supply chain conditions remain challengingComparable order intake decreased 8%, due to lower demand for COVID-19-related products compared to 2021 and company actions to improve the order book margin profileIncome from operations amounted to EUR 171 million, compared to EUR 162 million in Q4 2021Adjusted EBITA of EUR 651 million, or 12.0% of sales, compared to EUR 647 million, or 13.1% of sales, in Q4 2021Operating cash flow was EUR 540 million, compared to EUR 720 million in Q4 2021 Full-year hi
October 12, 2022 Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHIA))), a global leader in health technology, today provided an update on its third-quarter 2022 financial results and full-year outlook. The company will report the final results on October 24, 2022. Group sales and profitabilityPhilips' financial performance in the third quarter was largely impacted by continued supply chain challenges that were more significant than anticipated in the quarter, impacting deliveries and customer installations. As a result, sales for the Group are expected to be approximately EUR 4.3 billion with a comparable sales decline of approximately 5%. Philips' Diagnosis & Treatment busine
July 25, 2022 Highlights Group sales amounted to EUR 4.2 billion, with a 7% comparable sales decline mainly caused by continued supply shortages and prolonged lockdowns in China, on the back of 9% comparable sales growth in Q2 2021Order book remains strong; comparable order intake increased 1% and includes a 5 percentage-points negative impact related to ChinaIncome from operations amounted to EUR 11 million, compared to EUR 85 million in Q2 2021Adjusted EBITA of EUR 216 million, or 5.2% of sales, compared to EUR 532 million, or 12.6% of sales, in Q2 2021Operating cash flow was an outflow of EUR 306 million, mainly due to temporarily higher inventories, compared to an inflow of EUR 332