Philips Stock Is Having Its Best Day on Record. Litigation Settlement Was Less Than Feared.

Shares of Philips leapt by nearly one-third after the Dutch health-technology company disclosed a settlement related to its Respironics devices that was much lower than Wall Street expected. Philips said it would pay $1.1 billion to resolve personal injury and medical monitoring litigation in the U.S., saying that the payments are expected in 2025 and will be funded from cash flow. “Philips and Philips Respironics do not admit any fault or liability, or that any injuries were caused by Respironics’ devices,” the company said in a news release on Monday.