Koninklijke Philips (NYSE:PHG) Sees Unusually-High Trading Volume – Here’s What Happened

Koninklijke Philips N.V. (NYSE:PHGGet Free Report) saw strong trading volume on Monday . 2,735,484 shares were traded during mid-day trading, an increase of 158% from the previous session’s volume of 1,059,118 shares.The stock last traded at $25.6150 and had previously closed at $26.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PHG shares. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Koninklijke Philips from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, Zacks Research lowered Koninklijke Philips from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Read Our Latest Analysis on Koninklijke Philips

Koninklijke Philips Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $25.00 billion, a P/E ratio of 21.80, a P/E/G ratio of 5.63 and a beta of 0.75. The company’s 50-day simple moving average is $26.72 and its 200 day simple moving average is $28.05.

Koninklijke Philips (NYSE:PHGGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.49 billion. As a group, sell-side analysts expect that Koninklijke Philips N.V. will post 1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

Institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC boosted its stake in shares of Koninklijke Philips by 923.7% during the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company’s stock worth $27,000 after acquiring an additional 896 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips in the 3rd quarter valued at approximately $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Koninklijke Philips in the 4th quarter valued at approximately $31,000. CIBC Private Wealth Group LLC lifted its holdings in Koninklijke Philips by 179.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company’s stock worth $34,000 after purchasing an additional 817 shares during the last quarter. Finally, Navalign LLC acquired a new stake in Koninklijke Philips in the 4th quarter worth approximately $54,000. 13.67% of the stock is currently owned by institutional investors.

About Koninklijke Philips

(Get Free Report)

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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