Koninklijke Philips N.V. $PHG Stock Position Lifted by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its holdings in Koninklijke Philips N.V. by 100.6% in the second quarter, acquiring an additional 12,872 shares and bringing its total ownership to 25,667 shares valued at $615,000.
• Brokerages have recently updated their ratings on Philips stock, with Weiss Ratings reaffirming a "sell (d+)" rating, while Wall Street Zen downgraded it from "buy" to "hold."
• Koninklijke Philips reported quarterly earnings of $0.41 per share, surpassing analysts’ expectations, and generated revenue of $5.05 billion, exceeding estimates of $4.35 billion during the same period.

Concurrent Investment Advisors LLC lifted its holdings in Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 100.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,667 shares of the technology company's stock after purchasing an additional 12,872 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Koninklijke Philips were worth $615,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Aurora Private Wealth Inc. bought a new position in Koninklijke Philips during the first quarter valued at about $1,695,000. Cerity Partners LLC boosted its stake in Koninklijke Philips by 30.6% during the first quarter. Cerity Partners LLC now owns 80,767 shares of the technology company's stock valued at $2,051,000 after buying an additional 18,906 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Koninklijke Philips by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after buying an additional 106,044 shares in the last quarter. HB Wealth Management LLC bought a new position in Koninklijke Philips during the first quarter valued at about $333,000. Finally, Bessemer Group Inc. boosted its stake in Koninklijke Philips by 2,935.4% during the first quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock valued at $51,000 after buying an additional 1,908 shares in the last quarter. Institutional investors own 13.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PHG. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Koninklijke Philips in a research note on Wednesday, October 8th. Wall Street Zen cut Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Koninklijke Philips Trading Up 0.7%

NYSE:PHG opened at $28.54 on Friday. 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 1-year low of $21.48 and a 1-year high of $32.25. The firm has a market capitalization of $27.48 billion, a price-to-earnings ratio of 150.18, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. The stock has a fifty day simple moving average of $27.69 and a 200 day simple moving average of $25.35.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 earnings per share 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 return on equity of 11.95% and a net margin of 1.00%. Sell-side analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current year.

Koninklijke Philips Company Profile

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.

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