Koninklijke Philips: Major Overhang Removed [Seeking Alpha]
Koninklijke Philips N.V. NY Registry Shares (PHG)
US:NYSE Investor Relations:
philips.com/a-w/about/investor.html
Company Research
Source: Seeking Alpha
Additional provisions heavily impacted Q1 2024 net income results. Philips forecasts higher costs in 2024. However, with lower litigation costs, we decided to increase our target price. On 29/04/2024, Koninklijke Philips N.V. ( NYSE: PHG released its Q1 trading results and, more importantly, resolved the Respironics personal injury and medical monitoring pending litigation in the United States. As a reminder, the company recalled CPAP machines in 2021, and Philips's stock price significantly declined. In our last assessment , following the JPMorgan Healthcare Conference, the CEO refrained from commenting on timelines for potential outcomes of the consent decree but explained that Philips is in dialogue with the U.S. Food and Drug Administration . Despite our positive view on top-line sales backed by an aging population and resilient market demand, we estimated a potential $3 billion lawsuit based on 100,000 complaints with a minimum past expense of $30k each. This was based on
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PHG
News
- Philips announces exchange ratio for 2023 dividendGlobeNewswire
- Philips' (PHG) Gets FDA Recall for Trilogy Ventilator Glitch [Yahoo! Finance]Yahoo! Finance
- Philips sues CPAP cleaning product maker, saying it should pay part of settlements [Reuters]Reuters
- Koninklijke Philips (NYSE: PHG) was upgraded by analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating.MarketBeat
- PHG vs. HAE: Which Stock Is the Better Value Option? [Yahoo! Finance]Yahoo! Finance
PHG
Earnings
- 1/29/24 - In-Line
PHG
Sec Filings
- 5/15/24 - Form 6-K
- 5/14/24 - Form S-8
- 5/8/24 - Form 6-K
- PHG's page on the SEC website