Janney Montgomery Scott LLC boosted its stake in Koninklijke Philips N.V. (NYSE:PHG) by 44.5% during the second quarter, Holdings Channel reports. The firm owned 38,979 shares of the technology company’s stock after buying an additional 12,007 shares during the period. Janney Montgomery Scott LLC’s holdings in Koninklijke Philips N.V. were worth $1,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PHG. Hotchkis & Wiley Capital Management LLC increased its position in shares of Koninklijke Philips N.V. by 70.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 15,314,410 shares of the technology company’s stock valued at $491,746,000 after buying an additional 6,315,088 shares during the period. Boston Partners increased its position in shares of Koninklijke Philips N.V. by 17.5% in the first quarter. Boston Partners now owns 11,945,897 shares of the technology company’s stock valued at $383,583,000 after buying an additional 1,775,688 shares during the period. Wells Fargo & Company MN increased its position in shares of Koninklijke Philips N.V. by 64.7% in the first quarter. Wells Fargo & Company MN now owns 3,124,586 shares of the technology company’s stock valued at $100,330,000 after buying an additional 1,227,929 shares during the period. Steadfast Capital Management LP purchased a new position in shares of Koninklijke Philips N.V. during the first quarter valued at approximately $24,872,000. Finally, Karp Capital Management Corp purchased a new position in shares of Koninklijke Philips N.V. during the first quarter valued at approximately $10,743,000. Hedge funds and other institutional investors own 7.17% of the company’s stock.

Shares of Koninklijke Philips N.V. (NYSE PHG) opened at 37.61 on Thursday. The firm has a 50-day moving average of $36.89 and a 200 day moving average of $33.69. The firm has a market capitalization of $35.24 billion, a price-to-earnings ratio of 20.25 and a beta of 1.34. Koninklijke Philips N.V. has a 52-week low of $27.90 and a 52-week high of $38.61.

Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings data on Monday, July 24th. The technology company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. Koninklijke Philips N.V.’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts predict that Koninklijke Philips N.V. will post $1.95 EPS for the current year.

Koninklijke Philips N.V. declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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PHG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, June 7th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 target price on shares of Koninklijke Philips N.V. in a report on Monday, July 3rd. Societe Generale downgraded shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Natixis downgraded shares of Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Finally, Deutsche Bank AG downgraded shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Koninklijke Philips N.V. presently has a consensus rating of “Buy” and a consensus price target of $35.67.

Koninklijke Philips N.V. Company Profile

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s 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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