Koninklijke Philips N.V. (NYSE:PHG – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $27.01, but opened at $25.46. Koninklijke Philips shares last traded at $25.6550, with a volume of 321,516 shares.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Weiss Ratings downgraded Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 2nd. Zacks Research downgraded Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Get Our Latest Stock Report on PHG
Koninklijke Philips Trading Down 0.4%
Koninklijke Philips (NYSE:PHG – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. As a group, equities research analysts forecast that Koninklijke Philips N.V. will post 1.87 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GC Wealth Management RIA LLC grew its position in Koninklijke Philips by 34.2% in the first quarter. GC Wealth Management RIA LLC now owns 47,015 shares of the technology company’s stock worth $1,288,000 after acquiring an additional 11,977 shares in the last quarter. Compound Planning Inc. purchased a new position in Koninklijke Philips in the first quarter worth $247,000. Arrowstreet Capital Limited Partnership purchased a new position in Koninklijke Philips in the first quarter worth $1,478,000. Cloverfields Capital Group LP grew its position in Koninklijke Philips by 1.2% in the first quarter. Cloverfields Capital Group LP now owns 70,940 shares of the technology company’s stock worth $1,944,000 after acquiring an additional 868 shares in the last quarter. Finally, Sei Investments Co. grew its position in Koninklijke Philips by 4.7% in the first quarter. Sei Investments Co. now owns 486,941 shares of the technology company’s stock worth $13,343,000 after acquiring an additional 22,039 shares in the last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.
About Koninklijke Philips
Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.
Philips’ principal activities center on medical technologies and personal health.
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