Headlands Technologies LLC Invests $678,000 in Koninklijke Philips N.V. (NYSE:PHG)

Key Points

• Headlands Technologies LLC acquired 26,685 shares of Koninklijke Philips N.V. in Q1 2023, worth approximately $678,000.
• Other institutional investors have significantly increased their holdings in Koninklijke Philips, with Northern Trust Corp and GAMMA Investing LLC making notable purchases.
• Koninklijke Philips reported earnings of $0.41 EPS, exceeding analyst estimates and generating a revenue of $5.05 billion for the quarter.

Headlands Technologies LLC bought a new position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 26,685 shares of the technology company's stock, valued at approximately $678,000.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Koninklijke Philips by 12.1% during the 4th quarter. LPL Financial LLC now owns 99,911 shares of the technology company's stock worth $2,530,000 after purchasing an additional 10,766 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Koninklijke Philips by 7.2% during the 4th quarter. Wells Fargo & Company MN now owns 271,521 shares of the technology company's stock worth $6,875,000 after purchasing an additional 18,296 shares during the last quarter. Cerity Partners LLC raised its holdings in Koninklijke Philips by 2.9% during the 4th quarter. Cerity Partners LLC now owns 61,861 shares of the technology company's stock worth $1,684,000 after purchasing an additional 1,749 shares during the last quarter. Capital Fund Management S.A. lifted its position in shares of Koninklijke Philips by 14.8% during the 4th quarter. Capital Fund Management S.A. now owns 90,728 shares of the technology company's stock valued at $2,297,000 after acquiring an additional 11,669 shares during the period. Finally, First Foundation Advisors acquired a new position in shares of Koninklijke Philips during the 4th quarter valued at $862,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Koninklijke Philips Stock Up 1.0%

PHG stock traded up $0.28 during midday trading on Wednesday, reaching $27.27. 265,988 shares of the company's stock traded hands, compared to its average volume of 1,002,548. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 143.66, a P/E/G ratio of 0.72 and a beta of 0.75. The firm's fifty day moving average price is $24.55 and its 200-day moving average price is $24.99. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. Koninklijke Philips N.V. has a 52 week low of $21.48 and a 52 week high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.12. The business had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. As a group, sell-side analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

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.