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Philips stock fell more than 16% Monday after the Dutch medical device giant lowered its sales outlook on continued lower demand in China.The company reported revenue of $4.6 billion in the third ...
Philips lost more than two-thirds of its market valuation in 2021-2022, but has staged a modest recovery in 2023. "This is negative news," analysts from Bernstein said in a note.
Following this announcement, Philips' stock experienced a 3.3% rise in Amsterdam, reflecting a positive market reaction. Philips stock has gained more than 27% in the last 12 months.
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Earlier this year, Dutch medical device maker Royal Philips reached a $1.1 billion deal to settle thousands of claims stemming from a recall in 2021 of millions of its breathing machines like ...
Exor announced on Aug. 14 it had taken a 15% stake in Philips for $2.8 billion in a surprise move, saying it viewed shares as undervalued after a global recall of respiratory devices the company ...
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October 12, 2022 at 9:44 AM