Koninklijke Philips (NYSE:PHG) Reaches New 12-Month High – Time to Buy?

Koninklijke Philips N.V. (NYSE:PHG) shares hit a new 52-week high on Thursday . The company traded as high as $29.62 and last traded at $29.5810, with a volume of 461503 shares. The stock had previously closed at $29.12.

Wall Street Analysts Forecast Growth

PHG has been the topic of a number of analyst reports. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Koninklijke Philips in a report on Monday, December 29th. Royal Bank Of Canada assumed coverage on Koninklijke Philips in a research note on Wednesday, December 17th. They issued a “sector perform” rating for the company. Finally, Wall Street Zen lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Koninklijke Philips Stock Up 1.3%

The company has a market capitalization of $28.41 billion, a P/E ratio of 147.58, a PEG ratio of 0.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 0.86. The company has a 50 day moving average of $27.53 and a 200-day moving average of $27.02.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%.The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.30 billion. As a group, equities analysts anticipate that Koninklijke Philips N.V. will post 1.63 EPS for the current year.

Institutional Investors Weigh In On Koninklijke Philips

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Koninklijke Philips by 1.3% in the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock worth $6,854,000 after buying an additional 3,540 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Koninklijke Philips by 60.8% during the 1st quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock worth $432,000 after acquiring an additional 6,429 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Koninklijke Philips by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock worth $21,495,000 after acquiring an additional 12,908 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Koninklijke Philips by 125.8% in the 1st 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 during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Koninklijke Philips by 45.5% during the first quarter. Geneos Wealth Management Inc. now owns 4,755 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,488 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

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.