Koninklijke Philips (NYSE:PHG) Sets New 1-Year High – Here’s What Happened

Shares of Koninklijke Philips N.V. (NYSE:PHG) reached a new 52-week high on Tuesday . The company traded as high as $29.36 and last traded at $29.2650, with a volume of 654101 shares changing hands. The stock had previously closed at $28.25.

Analyst Ratings Changes

A number of research firms have issued reports on PHG. Wall Street Zen downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings upgraded shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Koninklijke Philips Price Performance

The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $27.89 and a 200-day simple moving average of $25.92. The firm has a market cap of $28.26 billion, a PE ratio of 146.76, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%.The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.30 billion. Equities analysts anticipate that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mondrian Investment Partners LTD purchased a new position in Koninklijke Philips during the third quarter valued at $215,529,000. Fiduciary Management Inc. WI grew its position in shares of Koninklijke Philips by 21.7% during the first quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company’s stock valued at $190,900,000 after purchasing an additional 1,339,055 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Koninklijke Philips by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company’s stock valued at $111,662,000 after purchasing an additional 106,044 shares in the last quarter. Northern Trust Corp lifted its position in shares of Koninklijke Philips by 5.1% in the first quarter. Northern Trust Corp now owns 1,690,402 shares of the technology company’s stock worth $42,936,000 after buying an additional 81,653 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its stake in Koninklijke Philips by 54.3% during 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 buying an additional 538,715 shares during the last quarter. Institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

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.