Taikang Asset Management Hong Kong Co Ltd Boosts Position in Koninklijke Philips N.V. $PHG

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Koninklijke Philips N.V. by 10%, acquiring an additional 10,000 shares to reach a total of 110,000 shares, valued at $2,794,000.
• Analysts recently adjusted ratings for Koninklijke Philips, with Wall Street Zen downgrading the stock from a "buy" to a "hold", but the consensus rating remains a "Buy".
• Koninklijke Philips has reported earnings of $0.41 per share for the last quarter, outperforming estimates, and has a market capitalization of $27.27 billion.

Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,000 shares of the technology company's stock after purchasing an additional 10,000 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Koninklijke Philips were worth $2,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHG. Fiduciary Management Inc. WI grew its stake in Koninklijke Philips by 21.7% in the 1st quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company's stock valued at $190,900,000 after acquiring an additional 1,339,055 shares during the period. Dimensional Fund Advisors LP grew its stake in Koninklijke Philips by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after acquiring an additional 106,044 shares during the period. Northern Trust Corp grew its stake in Koninklijke Philips by 5.1% in the 1st quarter. Northern Trust Corp now owns 1,690,402 shares of the technology company's stock valued at $42,936,000 after acquiring an additional 81,653 shares during the period. Becker Capital Management Inc. grew its stake in Koninklijke Philips by 0.7% in the 4th quarter. Becker Capital Management Inc. now owns 945,542 shares of the technology company's stock valued at $23,941,000 after acquiring an additional 6,475 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Koninklijke Philips by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 482,753 shares of the technology company's stock valued at $12,262,000 after acquiring an additional 31,535 shares during the period. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Price Performance

PHG traded up $0.01 on Friday, hitting $27.59. 1,019,575 shares of the company's stock were exchanged, compared to its average volume of 983,151. Koninklijke Philips N.V. has a fifty-two week low of $21.48 and a fifty-two week high of $32.91. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $25.65 and a 200-day moving average price of $25.03. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 145.18, a P/E/G ratio of 0.75 and a beta of 0.75.

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

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.