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Philips (PHG) Drives Health Care Prospects With New Solutions

Philips PHG has been benefiting from an expanding healthcare portfolio.

It recently unveiled Philips Virtual Care Management, which is designed to connect health system providers, payers and employer groups, as well as patients from anywhere virtually.

Philips Virtual Care Management solution aims at reducing the burden on hospital staff by minimizing emergency department visits, lowering the cost of care and managing chronic diseases more efficiently.

Studies using Philips Virtual Care Management show an average reduction of 38% in emergency department visits and a 3.06% average decrease in HbA1c levels. It also shows potential for annual savings of $3,086 per patient or member.

Koninklijke Philips N.V. Price and Consensus

 

Koninklijke Philips N.V. Price and Consensus
Koninklijke Philips N.V. Price and Consensus

Koninklijke Philips N.V. price-consensus-chart | Koninklijke Philips N.V. Quote

Philips Designing Products to Drive Top Line

Philips recently released its latest portfolio of smart diagnostic systems and transformative workflow solutions powered by AI.

The company also entered a strategic partnership with Gibraltar Health Authority to advance radiology and cardiology patient care at St Bernard’s Hospital.

Expanding portfolio and partner base is expected to drive top-line growth in 2023. Philips’ 2022 revenues were negatively impacted by global supply shortages, inflationary pressures, and disruptions caused by the COVID situation in China and the Russia-Ukraine war.

In the fourth quarter of 2022, the company’s adjusted earnings before interest, taxes and amortization (EBITA) — its preferred measure of operational performance — increased 0.6% year over year to €651 million.

Philips expects to deliver low-single-digit comparable sales growth and high-single-digit adjusted EBITA margin in 2023, which is driven by component and pricing actions across its business.

For second-quarter fiscal 2023, the Zacks Consensus Estimate for revenues is pegged at $4.76 billion, indicating growth of 8.5% from the year-ago quarter’s reported quarter.

Moreover, the consensus mark for earnings is projected at $3.77 per share, indicating growth of 12.5% from the year-ago quarter’s reported figure.

Zacks Rank & Stocks to Consider

Currently, Philips carries a Zacks Rank #3 (Hold). It has lost 48.1% in a year compared with the Zacks Medical- Products industry’s and the Zacks Medical sector’s declines of 41.4% and 18.3%, respectively.

Some better-ranked stocks in the broader sector are Adaptive Biotechnology ADPT, Alcon ALC and Addus HomeCare ADUS, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Adaptive Biotechnology shares have lost 38.9% in the past year. The long-term earnings growth rate for ADPT is projected at 21.58%.

Alcon shares have lost 16.2% in the past year. ALC’s long-term earnings growth rate is projected at 14.96%.

Addus HomeCare shares have gained 18.7% in the past year. The long-term earnings growth rate for ADUS is projected at 11.66%.

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Koninklijke Philips N.V. (PHG) : Free Stock Analysis Report

Alcon (ALC) : Free Stock Analysis Report

Addus HomeCare Corporation (ADUS) : Free Stock Analysis Report

Adaptive Biotechnologies Corporation (ADPT) : Free Stock Analysis Report

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Zacks Investment Research