Koninklijke Philips (NYSE:PHG) Sees Strong Trading Volume - Time to Buy?

Key Points

• Koninklijke Philips shares fell 2.8% to $25.615 after trading volume surged 158% to 2.74 million shares, significantly above the prior session.
• Analyst sentiment is mostly cautious: three analysts rate the stock Hold and one rates it Sell, resulting in a consensus rating of “Reduce.”
• Philips modestly exceeded quarterly expectations, reporting $0.27 in EPS versus $0.24 expected and $4.52 billion in revenue versus $4.49 billion forecast; analysts project $1.87 EPS for the full year.

Shares of Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) saw unusually-high trading volume on Monday . 2,735,484 shares changed hands during trading, an increase of 158% from the previous session's volume of 1,059,118 shares.The stock last traded at $25.6150 and had previously closed at $26.17.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research downgraded shares of Koninklijke Philips from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. Weiss Ratings lowered shares of Koninklijke Philips from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce".

Koninklijke Philips Stock Down 2.8%

The business's 50 day simple moving average is $26.72 and its 200 day simple moving average is $28.05. The company has a market capitalization of $25.00 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 5.63 and a beta of 0.75. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.60.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.49 billion. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. As a group, analysts forecast that Koninklijke Philips N.V. will post 1.87 EPS for the current year.

Institutional Trading of Koninklijke Philips

Several hedge funds and other institutional investors have recently modified their holdings of the business. Legacy Wealth Asset Management LLC lifted its stake in Koninklijke Philips by 13.8% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 81,715 shares of the technology company's stock worth $2,222,000 after acquiring an additional 9,938 shares in the last quarter. Trust Point Inc. lifted its position in shares of Koninklijke Philips by 10.3% in the second quarter. Trust Point Inc. now owns 9,236 shares of the technology company's stock worth $251,000 after purchasing an additional 864 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Koninklijke Philips by 69.6% in the second quarter. GAMMA Investing LLC now owns 29,761 shares of the technology company's stock worth $809,000 after purchasing an additional 12,212 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Koninklijke Philips by 19.7% during the second quarter. Versant Capital Management Inc now owns 15,108 shares of the technology company's stock worth $411,000 after purchasing an additional 2,483 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Koninklijke Philips by 7.7% during the first quarter. Bank of America Corp DE now owns 700,141 shares of the technology company's stock worth $19,184,000 after purchasing an additional 50,124 shares during the period. Institutional investors and hedge funds own 13.67% of the company's stock.

About Koninklijke Philips

Koninklijke Philips N.V. NYSE: PHG, commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips' principal activities center on medical technologies and personal health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.