Royal Bank of Canada increased its holdings in Koninklijke Philips N.V. (NYSE:PHG – Free Report) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,310 shares of the technology company’s stock after purchasing an additional 57,514 shares during the quarter. Royal Bank of Canada’s holdings in Koninklijke Philips were worth $13,572,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lido Advisors LLC boosted its stake in Koninklijke Philips by 3.7% during the 4th quarter. Lido Advisors LLC now owns 9,062 shares of the technology company’s stock valued at $247,000 after purchasing an additional 323 shares during the period. Rhumbline Advisers lifted its holdings in shares of Koninklijke Philips by 1.3% during the second quarter. Rhumbline Advisers now owns 29,306 shares of the technology company’s stock worth $703,000 after buying an additional 388 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Koninklijke Philips by 5.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,759 shares of the technology company’s stock valued at $210,000 after acquiring an additional 399 shares during the period. Franklin Resources Inc. grew its stake in shares of Koninklijke Philips by 3.9% in the third quarter. Franklin Resources Inc. now owns 11,592 shares of the technology company’s stock worth $316,000 after acquiring an additional 439 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Koninklijke Philips by 19.8% in the first quarter. Bessemer Group Inc. now owns 2,756 shares of the technology company’s stock worth $76,000 after acquiring an additional 456 shares during the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Zacks Research cut shares of Koninklijke Philips from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, UBS Group reissued a “neutral” rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.
Koninklijke Philips Stock Up 1.6%
PHG opened at $26.76 on Friday. The company has a market capitalization of $26.31 billion, a P/E ratio of 19.72, a P/E/G ratio of 10.92 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82. The firm’s fifty day moving average price is $26.63 and its two-hundred day moving average price is $27.82. Koninklijke Philips N.V. has a fifty-two week low of $23.85 and a fifty-two week high of $33.44.
Koninklijke Philips (NYSE:PHG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a net margin of 6.30% and a return on equity of 14.38%. On average, analysts anticipate that Koninklijke Philips N.V. will post 1.75 EPS for the current year.
Koninklijke Philips Company Profile
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.
Featured Articles
- Five stocks we like better than Koninklijke Philips
- Datadog’s Drop Says More About Expectations Than Earnings
- D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off
- Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus
- Solventum Nears Inflection Point As It Begins to Unlock Value
Want to see what other hedge funds are holding PHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koninklijke Philips N.V. (NYSE:PHG – Free Report).
Receive News & Ratings for Koninklijke Philips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips and related companies with MarketBeat.com's FREE daily email newsletter.
