Shares of Koninklijke Philips N.V. (NYSE:PHG) reached a new 52-week high during trading on Tuesday . The company traded as high as $41.23 and last traded at $41.21, with a volume of 4,046,201 shares traded. The stock had previously closed at $40.49.

A number of analysts have recently commented on PHG shares. Zacks Investment Research raised Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, June 7th. Deutsche Bank AG downgraded Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Natixis downgraded Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.00.

The company has a 50 day moving average price of $38.02 and a 200-day moving average price of $35.07. The stock has a market cap of $38.61 billion, a P/E ratio of 22.37 and a beta of 1.34.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). Koninklijke Philips N.V. had a return on equity of 8.92% and a net margin of 6.39%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the company posted $0.46 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts forecast that Koninklijke Philips N.V. will post $1.95 earnings per share for the current fiscal year.

Koninklijke Philips N.V. declared that its board has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback outstanding shares. This buyback authorization permits the technology company to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Large investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC lifted its holdings in Koninklijke Philips N.V. by 8.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,783 shares of the technology company’s stock worth $135,000 after buying an additional 309 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Koninklijke Philips N.V. by 47.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,959 shares of the technology company’s stock worth $159,000 after buying an additional 1,607 shares in the last quarter. IFP Advisors Inc lifted its holdings in Koninklijke Philips N.V. by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 5,454 shares of the technology company’s stock worth $195,000 after buying an additional 706 shares in the last quarter. Sigma Planning Corp acquired a new position in Koninklijke Philips N.V. during the 2nd quarter worth $203,000. Finally, Comerica Securities Inc. acquired a new position in Koninklijke Philips N.V. during the 1st quarter worth $209,000. 7.56% of the stock is currently owned by hedge funds and other institutional investors.

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Koninklijke Philips N.V. Company Profile

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

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