Koninklijke Philips N.V. (NYSE:PHG) Given Average Recommendation of "Reduce" by Brokerages

Koninklijke Philips N.V. (NYSE:PHG) has received an average "Reduce" rating from five brokerage firms, with one sell and four hold recommendations. This comes despite the company exceeding quarterly earnings expectations with $0.27 EPS against an expected $0.24, and revenue of $4.52 billion. Institutional investors have adjusted their positions, with notable increases in holdings by Morgan Stanley, Tower Research Capital, and Millennium Management, collectively owning 13.67% of Philips shares.