Koninklijke Philips (NYSE:PHG) Shares Gap Down – Here’s Why

Shares of Koninklijke Philips N.V. (NYSE:PHG) gapped down before the market opened on Wednesday . The stock had previously closed at $27.01, but opened at $25.46. Koninklijke Philips shares last traded at $25.6550, with a volume of 321,516 shares changing hands.

Wall Street Analysts Forecast Growth

PHG has been the subject of several analyst reports. Weiss Ratings lowered shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Koninklijke Philips presently has a consensus rating of “Hold”.

Koninklijke Philips Trading Down 5.2%

The company’s fifty day moving average is $27.90 and its two-hundred day moving average is $28.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.32. The company has a market cap of $24.67 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 6.89 and a beta of 0.74.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.49 billion. On average, research analysts anticipate that Koninklijke Philips N.V. will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mondrian Investment Partners LTD purchased a new stake in shares of Koninklijke Philips during the third quarter worth $215,529,000. Fox Run Management L.L.C. purchased a new position in shares of Koninklijke Philips during the 3rd quarter worth $875,000. Causeway Capital Management LLC raised its holdings in shares of Koninklijke Philips by 5.8% during the 3rd quarter. Causeway Capital Management LLC now owns 1,958,112 shares of the technology company’s stock worth $53,378,000 after acquiring an additional 107,117 shares during the period. M&T Bank Corp raised its holdings in shares of Koninklijke Philips by 823.3% during the 4th quarter. M&T Bank Corp now owns 135,990 shares of the technology company’s stock worth $3,683,000 after acquiring an additional 121,261 shares during the period. Finally, XY Capital Ltd raised its holdings in shares of Koninklijke Philips by 356.8% during the 3rd quarter. XY Capital Ltd now owns 64,413 shares of the technology company’s stock worth $1,756,000 after acquiring an additional 50,313 shares during the period. Hedge funds and other 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.