Russell Investments Group Ltd. Buys 476,907 Shares of Koninklijke Philips (NYSE:PHG)

Russell Investments Group Ltd. lifted its holdings in Koninklijke Philips (NYSE:PHG - Free Report) by 85.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,033,823 shares of the technology company's stock after purchasing an additional 476,907 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Koninklijke Philips worth $24,119,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in Koninklijke Philips during the fourth quarter worth approximately $473,000. HighTower Advisors LLC boosted its stake in shares of Koninklijke Philips by 73.9% during the 3rd quarter. HighTower Advisors LLC now owns 28,270 shares of the technology company's stock worth $562,000 after acquiring an additional 12,010 shares in the last quarter. abrdn plc acquired a new position in shares of Koninklijke Philips in the 4th quarter worth $2,677,000. Barclays PLC acquired a new stake in shares of Koninklijke Philips during the third quarter worth $2,310,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Koninklijke Philips by 53.5% during the third quarter. Glenmede Trust Co. NA now owns 34,065 shares of the technology company's stock valued at $679,000 after purchasing an additional 11,875 shares during the last quarter. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Stock Down 0.7 %

PHG traded down $0.20 on Thursday, reaching $26.56. 2,140,329 shares of the company traded hands, compared to its average volume of 1,179,635. The company has a market cap of $24.66 billion, a price-to-earnings ratio of -27.67, a PEG ratio of 1.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 0.78. The stock's 50 day moving average price is $20.95 and its 200-day moving average price is $21.12. Koninklijke Philips has a 52-week low of $17.75 and a 52-week high of $29.44.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. Koninklijke Philips had a negative net margin of 4.41% and a positive return on equity of 9.82%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. On average, sell-side analysts expect that Koninklijke Philips will post 1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PHG shares. BNP Paribas cut Koninklijke Philips from an "outperform" rating to an "underperform" rating in a research note on Wednesday, February 7th. UBS Group upgraded shares of Koninklijke Philips from a "sell" rating to a "neutral" rating in a report on Tuesday. StockNews.com raised shares of Koninklijke Philips from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised shares of Koninklijke Philips from an "underweight" rating to a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.00.

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.