Koninklijke Philips N.V. $PHG Shares Purchased by Diversified Management Inc.

Key Points

• Diversified Management Inc. increased its Philips stake by 291.5% in the third quarter, bringing its holdings to 66,750 shares valued at approximately $1.63 million. Institutional investors and hedge funds collectively own 13.67% of PHG.
• Philips shares were trading at $24.29, near the lower end of their 52-week range of $23.62 to $33.44. The stock was up 0.8%, while its market capitalization stood at roughly $23.87 billion.
• The company exceeded quarterly expectations with earnings of $0.57 per share versus the $0.40 consensus estimate and revenue of $4.98 billion, though revenue declined 3% year over year. Analysts maintain an overall “Hold” rating.

Diversified Management Inc. grew its position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 291.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,750 shares of the technology company's stock after acquiring an additional 49,702 shares during the quarter. Diversified Management Inc.'s holdings in Koninklijke Philips were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Koninklijke Philips by 23.3% in the third quarter. GAMMA Investing LLC now owns 36,695 shares of the technology company's stock valued at $896,000 after buying an additional 6,934 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Koninklijke Philips during the third quarter worth about $224,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Koninklijke Philips by 14.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,047 shares of the technology company's stock worth $246,000 after acquiring an additional 1,174 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Koninklijke Philips by 18.9% in the 2nd quarter. Tidal Investments LLC now owns 401,637 shares of the technology company's stock worth $10,921,000 after acquiring an additional 63,868 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Koninklijke Philips in the 2nd quarter worth about $47,000. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Trading Up 0.8%

NYSE:PHG opened at $24.29 on Friday. Koninklijke Philips N.V. has a 52 week low of $23.62 and a 52 week high of $33.44. The firm has a 50-day moving average price of $25.79 and a two-hundred day moving average price of $26.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 1.26. The firm has a market cap of $23.87 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 10.01 and a beta of 0.77.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its earnings results on Monday, July 27th. The technology company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.17. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.91 billion. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%.The company's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. On average, equities analysts expect that Koninklijke Philips N.V. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Koninklijke Philips

Koninklijke Philips N.V. is a Netherlands-based health technology company that develops products, services and software for healthcare providers, health systems and consumers. The company focuses on improving diagnosis, treatment and health management through connected technologies and data-enabled solutions.

Philips' healthcare portfolio includes diagnostic imaging systems such as magnetic resonance imaging, computed tomography and ultrasound equipment; image-guided therapy systems; patient monitoring and clinical informatics technologies; and solutions for sleep and respiratory care.

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