Tag: $Philips

Shares of Dutch device maker Philips jumped more than 10.5% in early deals Monday after the company reported better-than-expected second-quarter earnings.

U.S. asset management firm Artisan Investments has raised its stake in Philips  to 10%, sending the healthcare technology group’s shares rising on Wednesday, a week after the Dutch company’s biggest shareholder also increased its holding.

Philips shares soared to a more than two-year high Monday after the Dutch medical devices giant agreed a $1.1 billion settlement in the U.S. for personal injury cases linked to the recall of some of its sleep apnea devices.

Philips announced the main terms of an agreement it reached in January with the U.S. government on its new sleep apnea machines, which has already cost the company over 360 million euros in the fourth quarter of 2023, sending its shares up almost 3% on Wednesday.

Philips on Monday said it will halt the sales of new sleep-therapy devices in the U.S., as part of a broader settlement that led the company to take a €363 million ($393 million) provision in the final quarter of the year.

Dutch health technology company Philips on Monday raised its full-year outlook as it beat analysts’ expectations for third-quarter core profit and comparable sales.

Shares of Dutch health tech company Philips on Friday fell to the bottom of the European benchmark.

Exor and Royal Philips jointly said that they have entered a relationship agreement, with Exor picking up a 15% stake in Philips for an undisclosed sum, but worth around 2.58 billion euros ($2.82 billion).

The Amsterdam-based group, a former industrial conglomerate that now focuses on medical technology, reported adjusted earnings before interest, taxes and amortization (EBITA) of 453 million euros ($503.78 million) for the April-June period.
.