Tidal Investments LLC Raises Holdings in Koninklijke Philips N.V. $PHG

Key Points

• Tidal Investments increased its Koninklijke Philips stake by 18.9% in the second quarter, adding 63,868 shares to own 401,637 shares valued at approximately $10.9 million. Institutional investors collectively own 13.67% of PHG.
• Philips exceeded quarterly expectations, reporting earnings per share of $0.57 versus the $0.40 consensus and revenue of $4.98 billion. However, revenue declined 3% year over year.
• PHG shares opened at $24.61, near their 52-week low of $23.85, while analysts maintain a consensus “Hold” rating; five analysts currently rate the stock as a hold.

Tidal Investments LLC increased its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,637 shares of the technology company's stock after acquiring an additional 63,868 shares during the quarter. Tidal Investments LLC's holdings in Koninklijke Philips were worth $10,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips in the third quarter worth approximately $27,000. Whipplewood Advisors LLC increased its stake in shares of Koninklijke Philips by 923.7% in the first quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company's stock worth $27,000 after buying an additional 896 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Koninklijke Philips by 179.6% during the 4th 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. Integrated Wealth Concepts LLC bought a new stake in Koninklijke Philips during the 2nd quarter valued at $47,000. Finally, Navalign LLC purchased a new stake in Koninklijke Philips during the 4th quarter valued at $54,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

Shares of PHG stock opened at $24.61 on Friday. The stock has a fifty day moving average of $26.63 and a 200 day moving average of $27.21. Koninklijke Philips N.V. has a 52 week low of $23.85 and a 52 week high of $33.44. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 10.21 and a beta of 0.76. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.55.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.17. Koninklijke Philips had a net margin of 6.30% and a return on equity of 14.38%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the previous year, the firm earned $0.27 EPS. The company's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts expect that Koninklijke Philips N.V. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PHG has been the topic of a number of recent analyst reports. Zacks Research raised shares of Koninklijke Philips from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Finally, UBS Group reissued a "neutral" rating on shares of Koninklijke Philips in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

Koninklijke Philips Company Profile

Koninklijke Philips N.V. is a Netherlands-based health technology company headquartered in Amsterdam. Founded in 1891 by Gerard Philips and his father, Frederik Philips, the company originally focused on electric light bulbs before expanding into consumer electronics and, later, health care technology.

Philips develops products and services across diagnostic imaging, image-guided therapy, patient monitoring, clinical informatics, and connected care. Its offerings include magnetic resonance imaging, computed tomography and ultrasound systems, hospital monitoring solutions, respiratory and sleep-care products, and software designed to support health care professionals and clinical workflows.

Through its Personal Health business, Philips also provides products such as electric toothbrushes, grooming devices, mother and child care products, and other wellness solutions.

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