Koninklijke Philips N.V. (PHG) Shares Sold by Boston Partners
Boston Partners decreased its stake in Koninklijke Philips N.V. (NYSE:PHG) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,517,010 shares of the technology company’s stock after selling 428,887 shares during the period. Boston Partners’ holdings in Koninklijke Philips N.V. were worth $412,540,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of PHG. Bank of Montreal Can raised its stake in shares of Koninklijke Philips N.V. by 34.2% in the first quarter. Bank of Montreal Can now owns 41,742 shares of the technology company’s stock valued at $1,341,000 after buying an additional 10,637 shares during the last quarter. Stevens Capital Management LP increased its position in Koninklijke Philips N.V. by 4.5% in the first quarter. Stevens Capital Management LP now owns 48,923 shares of the technology company’s stock valued at $1,571,000 after buying an additional 2,107 shares during the period. Greenleaf Trust purchased a new position in Koninklijke Philips N.V. during the first quarter valued at about $261,000. Raymond James Trust N.A. increased its position in Koninklijke Philips N.V. by 11.3% in the first quarter. Raymond James Trust N.A. now owns 9,518 shares of the technology company’s stock valued at $306,000 after buying an additional 966 shares during the period. Finally, Steadfast Capital Management LP purchased a new position in Koninklijke Philips N.V. during the first quarter valued at about $24,872,000. Institutional investors own 7.17% of the company’s stock.
Koninklijke Philips N.V. (PHG) opened at 37.61 on Thursday. Koninklijke Philips N.V. has a 1-year low of $27.90 and a 1-year high of $38.61. The stock’s 50 day moving average price is $36.89 and its 200 day moving average price is $33.69. The firm has a market cap of $35.24 billion, a P/E ratio of 20.25 and a beta of 1.34.
Koninklijke Philips N.V. (NYSE:PHG) last announced its earnings results 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. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the business earned $0.46 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research 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 permits the company to buyback shares. This buyback authorization permits the technology company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts have recently issued reports on the company. Zacks Investment Research raised Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Natixis downgraded Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. BidaskClub downgraded Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Deutsche Bank AG downgraded Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $35.67.
About Koninklijke Philips N.V.
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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