Koninklijke Philips N.V. $PHG Shares Sold by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners reduced its Philips stake by 2.3%, selling 181,747 shares and retaining 7.89 million shares valued at approximately $192.7 million. Philips represents 4.2% of the fund’s portfolio and 0.8% of the company.
• Other institutional investors, including Royal Bank of Canada, Bank of America, Cetera Investment Advisers and Tidal Investments, increased their holdings; institutional investors collectively own 13.67% of Philips.
• Analysts maintain a consensus “Hold” rating. Philips exceeded quarterly earnings expectations with $0.57 in EPS versus $0.40 forecast, while revenue declined 3% year over year to $4.98 billion.

Mondrian Investment Partners LTD reduced its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,885,781 shares of the technology company's stock after selling 181,747 shares during the quarter. Koninklijke Philips makes up 4.2% of Mondrian Investment Partners LTD's holdings, making the stock its 7th largest position. Mondrian Investment Partners LTD owned 0.80% of Koninklijke Philips worth $192,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Koninklijke Philips by 13.1% in the 1st quarter. Royal Bank of Canada now owns 495,310 shares of the technology company's stock worth $13,572,000 after buying an additional 57,514 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Koninklijke Philips by 7.7% during the 1st quarter. Bank of America Corp DE now owns 700,141 shares of the technology company's stock worth $19,184,000 after acquiring an additional 50,124 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Koninklijke Philips in the second quarter valued at approximately $1,160,000. Cetera Investment Advisers boosted its stake in Koninklijke Philips by 116.9% in the first quarter. Cetera Investment Advisers now owns 85,288 shares of the technology company's stock valued at $2,337,000 after acquiring an additional 45,968 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Koninklijke Philips by 18.9% in the second quarter. Tidal Investments LLC now owns 401,637 shares of the technology company's stock valued at $10,921,000 after acquiring an additional 63,868 shares in the last quarter. Institutional investors own 13.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PHG. UBS Group reaffirmed a "neutral" rating on shares of Koninklijke Philips in a research report on Monday, August 3rd. Zacks Research upgraded Koninklijke Philips from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Weiss Ratings upgraded Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Koninklijke Philips presently has a consensus rating of "Hold".

Koninklijke Philips Stock Down 0.1%

Koninklijke Philips stock opened at $26.90 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. The business's 50-day simple moving average is $25.54 and its two-hundred day simple moving average is $26.43. The company has a market cap of $26.44 billion, a PE ratio of 19.82, a PEG ratio of 11.18 and a beta of 0.77. Koninklijke Philips N.V. has a fifty-two week low of $23.62 and a fifty-two week high of $33.44.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The technology company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.17. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.91 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. Equities analysts anticipate that Koninklijke Philips N.V. will post 1.74 EPS for the current year.

Koninklijke Philips Profile

Koninklijke Philips N.V. is a Netherlands-based health technology company that develops products, services and software for healthcare providers, patients and consumers. Its portfolio includes diagnostic imaging systems, such as magnetic resonance imaging, computed tomography and X-ray equipment; ultrasound systems; image-guided therapy technologies; patient monitoring and hospital informatics solutions; and connected care products.

Philips also serves consumers through personal health products, including electric toothbrushes, oral healthcare systems, mother and child care products, and sleep and respiratory care devices.

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