Baird Financial Group Inc. Buys New Shares in Koninklijke Philips N.V. $PHG

Key Points

• Baird Financial Group bought 42,669 shares of Koninklijke Philips during the second quarter, valued at approximately $1.16 million. Several other institutional investors also increased their holdings, with institutions collectively owning 13.67% of the stock.
• Philips reported quarterly EPS of $0.57, beating the $0.40 consensus estimate, while revenue reached $4.98 billion. However, revenue declined 3% year over year.
• PHG shares opened at $24.67, near their 52-week low of $23.85, and analysts maintain an overall “Hold” rating. The company is valued at roughly $24.25 billion with a P/E ratio of 18.18.

Baird Financial Group Inc. purchased a new position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,669 shares of the technology company's stock, valued at approximately $1,160,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PHG. Royal Bank of Canada lifted its stake in Koninklijke Philips by 13.1% during the first quarter. Royal Bank of Canada now owns 495,310 shares of the technology company's stock worth $13,572,000 after purchasing an additional 57,514 shares during the last quarter. Bank of America Corp DE increased its stake in Koninklijke Philips by 7.7% in the first quarter. Bank of America Corp DE now owns 700,141 shares of the technology company's stock valued at $19,184,000 after purchasing an additional 50,124 shares during the last quarter. Cetera Investment Advisers raised its holdings in Koninklijke Philips by 116.9% during the first quarter. Cetera Investment Advisers now owns 85,288 shares of the technology company's stock worth $2,337,000 after purchasing an additional 45,968 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Koninklijke Philips by 31.7% during the first quarter. Quantinno Capital Management LP now owns 392,219 shares of the technology company's stock worth $10,747,000 after purchasing an additional 94,413 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Koninklijke Philips during the 1st quarter worth approximately $1,478,000. Hedge funds and other institutional investors own 13.67% of the company's stock.

Koninklijke Philips Price Performance

Shares of PHG opened at $24.67 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 1.26. Koninklijke Philips N.V. has a fifty-two week low of $23.85 and a fifty-two week high of $33.44. The firm has a 50-day simple moving average of $26.34 and a 200-day simple moving average of $26.98. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 10.24 and a beta of 0.76.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.40 by $0.17. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%.The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the prior year, the business earned $0.27 EPS. The firm's revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Koninklijke Philips N.V. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PHG shares. Zacks Research upgraded shares of Koninklijke Philips from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. UBS Group reiterated a "neutral" rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

About Koninklijke Philips

Koninklijke Philips N.V. is a Netherlands-based health technology company headquartered in Amsterdam. Founded in 1891 by Gerard Philips and his father, Frederik Philips, the company originally focused on electric light bulbs before expanding into consumer electronics and, later, health care technology.

Philips develops products and services across diagnostic imaging, image-guided therapy, patient monitoring, clinical informatics, and connected care. Its offerings include magnetic resonance imaging, computed tomography and ultrasound systems, hospital monitoring solutions, respiratory and sleep-care products, and software designed to support health care professionals and clinical workflows.

Through its Personal Health business, Philips also provides products such as electric toothbrushes, grooming devices, mother and child care products, and other wellness solutions.

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