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Why Royal Philips Is Trading Higher Today

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Royal Philips NV (NYSE: PHG) shares are trading higher on Monday, after the company announced it plans to double the production of ventilators within the next eight weeks and achieve a four-fold increase by the third-quarter of 2020.

Royal Philips is a Dutch multinational conglomerate currently focused in the area of health technology, with other divisions.

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The company is increasing the production of certain critical care products to help diagnose and treat patients with the new coronavirus disease.

Royal Philips NV shares were trading up 2.65% at $33.74 on Monday. The stock has a 52-week high of $50.78 and a 52-week low of $30.50.

 

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