Koninklijke Philips N.V. $PHG Position Raised by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Koninklijke Philips position by 13.1% in the first quarter, adding 57,514 shares for a total holding valued at approximately $13.6 million. Institutional investors and hedge funds collectively own 13.67% of PHG.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and one rates it “Sell,” resulting in a consensus “Reduce” rating, despite select upgrades from Weiss Ratings and Wall Street Zen.
• Philips reported quarterly EPS of $0.27, exceeding expectations of $0.24, while revenue reached $4.52 billion versus the $4.49 billion consensus estimate. Shares opened at $26.76, up 1.6%.

Royal Bank of Canada grew its position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 495,310 shares of the technology company's stock after acquiring an additional 57,514 shares during the quarter. Royal Bank of Canada owned about 0.05% of Koninklijke Philips worth $13,572,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC boosted its stake in Koninklijke Philips by 923.7% during the 1st quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company's stock valued at $27,000 after purchasing an additional 896 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Koninklijke Philips in the third quarter valued at approximately $27,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at approximately $31,000. CIBC Private Wealth Group LLC raised its holdings in shares of Koninklijke Philips by 179.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company's stock valued at $34,000 after buying an additional 817 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of Koninklijke Philips during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 13.67% of the company's stock.

Analyst Upgrades and Downgrades

PHG has been the subject of a number of recent analyst reports. Weiss Ratings raised Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. UBS Group reiterated a "neutral" rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Zacks Research cut Koninklijke Philips from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce".

Koninklijke Philips Trading Up 1.6%

Koninklijke Philips stock opened at $26.76 on Friday. Koninklijke Philips N.V. has a 12-month low of $23.85 and a 12-month high of $33.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82. The stock has a market capitalization of $26.31 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 10.92 and a beta of 0.76. The firm has a 50 day simple moving average of $26.63 and a 200-day simple moving average of $27.82.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.49 billion. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%. As a group, equities research analysts expect that Koninklijke Philips N.V. will post 1.75 EPS for the current fiscal year.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. NYSE: PHG, commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips' principal activities center on medical technologies and personal health.

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