Summit Global Investments acquired a new stake in shares of Koninklijke Philips N.V. (NYSE:PHG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,780 shares of the technology company’s stock, valued at approximately $637,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHG. Northwestern Mutual Wealth Management Co. grew its position in Koninklijke Philips N.V. by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock valued at $191,000 after buying an additional 374 shares during the period. Vantage Financial Partners Ltd. Inc. bought a new stake in Koninklijke Philips N.V. during the second quarter valued at approximately $233,000. Capital Fund Management S.A. grew its position in Koninklijke Philips N.V. by 270.0% during the second quarter. Capital Fund Management S.A. now owns 63,273 shares of the technology company’s stock valued at $2,266,000 after buying an additional 46,173 shares during the period. Financial Counselors Inc. bought a new stake in Koninklijke Philips N.V. during the second quarter valued at approximately $9,199,000. Finally, Franklin Resources Inc. grew its position in Koninklijke Philips N.V. by 16.8% during the second quarter. Franklin Resources Inc. now owns 15,146 shares of the technology company’s stock valued at $543,000 after buying an additional 2,177 shares during the period. 7.56% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages recently issued reports on PHG. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Natixis lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 21st. BidaskClub lowered shares of Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG lowered shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Koninklijke Philips N.V. presently has a consensus rating of “Buy” and a consensus price target of $37.00.

Koninklijke Philips N.V. (NYSE PHG) traded up 2.07% during trading on Tuesday, hitting $41.33. 451,800 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $38.02 and its 200 day moving average price is $35.07. The firm has a market cap of $38.73 billion, a price-to-earnings ratio of 22.44 and a beta of 1.34. Koninklijke Philips N.V. has a 12-month low of $28.19 and a 12-month high of $41.36.

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

Koninklijke Philips N.V. announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback outstanding shares. This buyback authorization permits the technology company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Koninklijke Philips N.V. 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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Institutional Ownership by Quarter for Koninklijke Philips N.V. (NYSE:PHG)

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