Tower Bridge Advisors bought a new stake in Koninklijke Philips N.V. (NYSE:PHG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,350 shares of the technology company’s stock, valued at approximately $220,000.

Several other hedge funds also recently modified their holdings of PHG. BlackRock Inc. lifted its holdings in shares of Koninklijke Philips N.V. by 54.6% in the 2nd quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock worth $147,264,000 after acquiring an additional 1,452,699 shares during the last quarter. Steadfast Capital Management LP lifted its holdings in shares of Koninklijke Philips N.V. by 150.2% in the 2nd quarter. Steadfast Capital Management LP now owns 1,937,781 shares of the technology company’s stock worth $69,411,000 after acquiring an additional 1,163,201 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Koninklijke Philips N.V. by 25.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,344,199 shares of the technology company’s stock worth $191,429,000 after acquiring an additional 1,081,936 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. acquired a new position in shares of Koninklijke Philips N.V. in the 2nd quarter worth approximately $22,328,000. Finally, Quantitative Investment Management LLC lifted its holdings in shares of Koninklijke Philips N.V. by 135.0% in the 2nd quarter. Quantitative Investment Management LLC now owns 672,200 shares of the technology company’s stock worth $24,078,000 after acquiring an additional 386,200 shares during the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

In related news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $1.50, for a total value of $5,001,879.00. Following the transaction, the insider now directly owns 29,693,444 shares of the company’s stock, valued at approximately $44,540,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Koninklijke Philips N.V. (NYSE:PHG) opened at $38.79 on Tuesday. Koninklijke Philips N.V. has a 52-week low of $28.19 and a 52-week high of $42.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.15. The company has a market cap of $36,565.68, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.81 and a beta of 1.41.

Koninklijke Philips N.V. (NYSE:PHG) last announced its quarterly earnings data on Monday, October 23rd. The technology company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04). Koninklijke Philips N.V. had a net margin of 6.67% and a return on equity of 7.19%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. equities research analysts anticipate that Koninklijke Philips N.V. will post 1.37 earnings per share for the current year.

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Several brokerages have recently commented on PHG. J P Morgan Chase & Co lowered shares of Koninklijke Philips N.V. from an “overweight” rating to a “neutral” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Tuesday, October 24th. BNP Paribas downgraded shares of Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research note on Monday, October 16th. Finally, BidaskClub downgraded shares of Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $41.50.

Koninklijke Philips N.V. Company Profile

Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The 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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