Healthcare equipment industry heavyweight Koninklijke Philips N.V. (PHG) recently presented its much-awaited second-quarter results that had been expected to be bolstered by higher sales of ventilators and patient monitors in the wake of the pandemic but also impacted by declined demand for other hospital equipment and consumer products. The company topped analysts’ consensus forecasts on both revenue and EPS, which was utilized by bullish traders as a lucrative opportunity, which helped the stock to extend an almost four-month-long rally and reach the highest EV/Sales ratio in a decade.
As of July 22, Koninklijke