Koninklijke Philips (NYSE:PHG) Releases Quarterly Earnings Results

Key Points

• Koninklijke Philips reported a quarterly earnings per share (EPS) of $0.41, exceeding analyst expectations by $0.12.
• The stock has a market capitalization of $27.29 billion and an average analyst rating of "Buy", with some upgrades from analysts recently.
• Institutional investments have notably increased, with firms like AQR Capital Management raising their stakes by over 60% in the first quarter.

Koninklijke Philips (NYSE:PHG - Get Free Report) released its quarterly earnings results on Tuesday. The technology company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.12, Zacks reports. 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 11.67% and a net margin of 1.00%.

Koninklijke Philips Stock Performance

Shares of PHG stock traded down $1.22 on Wednesday, hitting $26.80. 2,321,444 shares of the stock were exchanged, compared to its average volume of 1,097,179. The company has a current ratio of 1.28, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $25.81 billion, a PE ratio of 141.05, a P/E/G ratio of 0.81 and a beta of 0.76. Koninklijke Philips has a one year low of $21.48 and a one year high of $32.91. The firm's 50 day moving average is $23.89 and its two-hundred day moving average is $24.97.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Koninklijke Philips has a consensus rating of "Buy".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHG. AQR Capital Management LLC lifted its holdings in Koninklijke Philips by 60.8% during the 1st quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company's stock worth $432,000 after purchasing an additional 6,429 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Koninklijke Philips by 125.8% in the 1st quarter. Jane Street Group LLC now owns 104,024 shares of the technology company's stock valued at $2,642,000 after acquiring an additional 57,952 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Koninklijke Philips by 1.3% in the 1st quarter. Royal Bank of Canada now owns 269,829 shares of the technology company's stock valued at $6,854,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Koninklijke Philips by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company's stock valued at $21,495,000 after acquiring an additional 12,908 shares in the last quarter. Institutional investors own 13.67% of the company's stock.

About Koninklijke Philips

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.