Koninklijke Philips N.V. (NYSE:PHG – Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.82 and last traded at $25.0550, with a volume of 6321824 shares. The stock had previously closed at $26.17.
Wall Street Analysts Forecast Growth
PHG has been the subject of several analyst reports. Weiss Ratings downgraded shares of Koninklijke Philips from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded Koninklijke Philips from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.
Get Our Latest Stock Analysis on Koninklijke Philips
Koninklijke Philips Price Performance
Koninklijke Philips (NYSE:PHG – Get Free Report) last posted its earnings results on Monday, July 27th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. Koninklijke Philips had a return on equity of 13.51% and a net margin of 5.49%.The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Koninklijke Philips N.V. will post 1.87 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Koninklijke Philips
A number of institutional investors have recently made changes to their positions in PHG. Morgan Stanley increased its holdings in shares of Koninklijke Philips by 11.0% in the fourth quarter. Morgan Stanley now owns 2,841,880 shares of the technology company’s stock worth $76,958,000 after buying an additional 282,661 shares during the period. Moore Capital Management LP purchased a new stake in Koninklijke Philips during the 4th quarter valued at $5,727,000. Morningstar Investment Management LLC bought a new stake in Koninklijke Philips in the 3rd quarter worth $5,434,000. Tower Research Capital LLC TRC grew its holdings in Koninklijke Philips by 435.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock worth $5,410,000 after acquiring an additional 183,444 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Koninklijke Philips by 98.1% in the third quarter. Millennium Management LLC now owns 340,340 shares of the technology company’s stock valued at $9,278,000 after acquiring an additional 168,514 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.
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.
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