Koninklijke Philips (NYSE:PHG) Posts Earnings Results, Meets Estimates

Koninklijke Philips (NYSE:PHG) announced its earnings results on Tuesday. The technology company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37, Zacks reports. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%.

Koninklijke Philips Stock Up 4.0%

Shares of NYSE PHG traded up $1.09 on Tuesday, reaching $28.30. 732,822 shares of the company’s stock traded hands, compared to its average volume of 928,979. Koninklijke Philips has a 12 month low of $21.48 and a 12 month high of $29.28. The business’s 50 day simple moving average is $27.84 and its two-hundred day simple moving average is $25.77. The company has a market cap of $27.25 billion, a price-to-earnings ratio of 148.06, a price-to-earnings-growth ratio of 0.70 and a beta of 0.82. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69.

Hedge Funds Weigh In On Koninklijke Philips

A number of institutional investors and hedge funds have recently made changes to their positions in PHG. Royal Bank of Canada increased its position in shares of Koninklijke Philips by 1.3% during the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock valued at $6,854,000 after acquiring an additional 3,540 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Koninklijke Philips by 60.8% during the first quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock valued at $432,000 after acquiring an additional 6,429 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Koninklijke Philips by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock valued at $21,495,000 after acquiring an additional 12,908 shares in the last quarter. Jane Street Group LLC increased its position in shares of Koninklijke Philips by 125.8% during the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock valued at $2,642,000 after acquiring an additional 57,952 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Koninklijke Philips by 58.0% during the second quarter. JPMorgan Chase & Co. now owns 87,616 shares of the technology company’s stock valued at $2,101,000 after acquiring an additional 32,180 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.

Analyst Ratings Changes

PHG has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Koninklijke Philips in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.