Koninklijke Philips (NYSE:PHG) Hits New 52-Week High – Here’s What Happened

Koninklijke Philips N.V. (NYSE:PHG) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.16 and last traded at $30.1160, with a volume of 727727 shares traded. The stock had previously closed at $29.63.

Analyst Upgrades and Downgrades

PHG has been the subject of several research analyst reports. Royal Bank Of Canada began coverage on Koninklijke Philips in a research report on Wednesday, December 17th. They issued a “sector perform” rating for the company. Wall Street Zen upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday. Sanford C. Bernstein raised shares of Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings raised Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Koninklijke Philips Price Performance

The business has a fifty day moving average of $27.70 and a 200 day moving average of $27.21. The firm has a market cap of $28.98 billion, a P/E ratio of 150.51, a PEG ratio of 0.74 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.32 and a debt-to-equity ratio of 0.68.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.30 billion. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%. On average, sell-side analysts anticipate that Koninklijke Philips N.V. will post 1.63 earnings per share for the current year.

Hedge Funds Weigh In On Koninklijke Philips

Several large investors have recently modified their holdings of the stock. Mondrian Investment Partners LTD acquired a new position in Koninklijke Philips in the 3rd quarter valued at about $215,529,000. Brandes Investment Partners LP grew its position in shares of Koninklijke Philips by 54.3% in the second quarter. Brandes Investment Partners LP now owns 1,530,918 shares of the technology company’s stock valued at $36,712,000 after purchasing an additional 538,715 shares during the last quarter. Investment Management Associates Inc. ADV bought a new position in shares of Koninklijke Philips during the second quarter worth approximately $12,122,000. Morningstar Investment Management LLC acquired a new stake in Koninklijke Philips during the 3rd quarter worth approximately $5,434,000. Finally, Tower Research Capital LLC TRC boosted its stake in Koninklijke Philips by 435.0% in the 2nd 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 during the period. 13.67% of the stock is owned by institutional investors.

Koninklijke Philips Company Profile

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.