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Koninklijke Philips (NYSE:PHG) Shares Gap Up Following Strong Earnings

Koninklijke Philips logo with Medical background

Key Points

  • Koninklijke Philips shares surged from $25.66 to $28.36 following an earnings report that exceeded expectations, with earnings per share (EPS) of $0.41 compared to the forecast of $0.29.
  • Several analysts have upgraded Koninklijke Philips from a "hold" to a "buy" rating, contributing to an average rating of "Buy" from research analysts.
  • Institutional investors have increased their stakes in Koninklijke Philips, with Fiduciary Management Inc. WI raising its position by 21.7% during the first quarter.
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Koninklijke Philips N.V. (NYSE:PHG - Get Free Report)'s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $25.66, but opened at $28.36. Koninklijke Philips shares last traded at $28.27, with a volume of 443,621 shares traded.

The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.29 by $0.12. Koninklijke Philips had a return on equity of 11.67% and a net margin of 1.00%. The company had revenue of $5.05 billion during the quarter, compared to analysts' expectations of $4.35 billion.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy".

View Our Latest Report on Koninklijke Philips

Institutional Investors Weigh In On Koninklijke Philips

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew its position in shares of Koninklijke Philips by 724.0% in the 4th quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company's stock valued at $36,000 after purchasing an additional 1,238 shares during the period. Bessemer Group Inc. raised its holdings in shares of Koninklijke Philips by 2,935.4% during the first quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company's stock worth $51,000 after acquiring an additional 1,908 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Koninklijke Philips by 1,170.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,439 shares of the technology company's stock worth $62,000 after acquiring an additional 2,247 shares during the period. Blue Trust Inc. lifted its position in Koninklijke Philips by 30.0% in the 2nd quarter. Blue Trust Inc. now owns 4,408 shares of the technology company's stock valued at $106,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Koninklijke Philips in the 4th quarter worth $114,000. Institutional investors own 13.67% of the company's stock.

Koninklijke Philips Stock Performance

The stock has a fifty day simple moving average of $23.89 and a 200-day simple moving average of $24.97. The stock has a market cap of $25.81 billion, a P/E ratio of 141.05, a PEG ratio of 0.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.28.

Koninklijke Philips Company Profile

(Get Free Report)

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.

Further Reading

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