Koninklijke Philips (NYSE:PHG) Issues Quarterly Earnings Results

Koninklijke Philips (NYSE:PHG) posted its earnings results on Tuesday. The technology company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37, Zacks reports. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.30 billion. Koninklijke Philips had a return on equity of 12.13% and a net margin of 1.07%.

Koninklijke Philips Stock Up 0.3%

Shares of Koninklijke Philips stock traded up $0.07 during trading on Thursday, reaching $28.14. The stock had a trading volume of 714,262 shares, compared to its average volume of 937,188. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 140.65, a P/E/G ratio of 0.76 and a beta of 0.82. The stock has a fifty day moving average price of $27.85 and a two-hundred day moving average price of $25.82. Koninklijke Philips has a 52 week low of $21.48 and a 52 week high of $29.28. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69.

Analysts Set New Price Targets

Several research analysts have weighed in on PHG shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Koninklijke Philips in a report on Wednesday, October 8th. Wall Street Zen lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Koninklijke Philips has a consensus rating of “Moderate Buy”.

Institutional Trading of Koninklijke Philips

A number of institutional investors have recently modified their holdings of PHG. Tower Research Capital LLC TRC lifted its holdings in shares of Koninklijke Philips by 435.0% in the second quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock valued at $5,410,000 after purchasing an additional 183,444 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Koninklijke Philips by 53.0% in the second quarter. Balyasny Asset Management L.P. now owns 220,668 shares of the technology company’s stock valued at $5,292,000 after purchasing an additional 76,487 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Koninklijke Philips by 125.8% in the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after purchasing an additional 57,952 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Koninklijke Philips in the second quarter valued at about $1,133,000. Finally, Sei Investments Co. raised its holdings in Koninklijke Philips by 11.7% during the second quarter. Sei Investments Co. now owns 381,406 shares of the technology company’s stock worth $9,146,000 after acquiring an additional 39,841 shares in the last quarter. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.