Koninklijke Philips (NYSE:PHG) Share Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Koninklijke Philips shares rose 2.4% and moved above their 200-day moving average of $27.24, reaching $27.59 in trading.
• Recent analyst views remain cautious: five analysts rate the stock Hold, resulting in a consensus “Hold” rating after mixed upgrades and downgrades.
• Philips reported quarterly EPS of $0.45, beating the $0.37 consensus estimate, while revenue of $4.98 billion fell slightly short of expectations.

Shares of Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $27.24 and traded as high as $27.59. Koninklijke Philips shares last traded at $27.5670, with a volume of 2,140,530 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on PHG. UBS Group downgraded shares of Koninklijke Philips from a "buy" rating to a "neutral" rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Koninklijke Philips from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Koninklijke Philips from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, October 21st. Five research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of "Hold".

Koninklijke Philips Stock Up 2.4%

The company has a market cap of $27.10 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 11.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a 50-day moving average price of $25.53 and a 200 day moving average price of $27.24.

Koninklijke Philips (NYSE:PHG - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The business had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $5.01 billion. Koninklijke Philips had a return on equity of 14.38% and a net margin of 6.30%. Sell-side analysts predict that Koninklijke Philips N.V. will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Koninklijke Philips

A number of hedge funds and other institutional investors have recently modified their holdings of PHG. Whipplewood Advisors LLC increased its holdings in shares of Koninklijke Philips by 923.7% during the first quarter. Whipplewood Advisors LLC now owns 993 shares of the technology company's stock worth $27,000 after purchasing an additional 896 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Koninklijke Philips in the second quarter valued at approximately $47,000. Bessemer Group Inc. raised its position in shares of Koninklijke Philips by 19.8% in the first quarter. Bessemer Group Inc. now owns 2,756 shares of the technology company's stock valued at $76,000 after buying an additional 456 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Koninklijke Philips by 42.4% in the first quarter. Parallel Advisors LLC now owns 4,790 shares of the technology company's stock valued at $131,000 after buying an additional 1,427 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Koninklijke Philips in the first quarter valued at approximately $161,000. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. is a Netherlands-based health technology company that develops products, services and software for healthcare providers, patients and consumers. Its portfolio includes diagnostic imaging systems, such as magnetic resonance imaging, computed tomography and X-ray equipment; ultrasound systems; image-guided therapy technologies; patient monitoring and hospital informatics solutions; and connected care products.

Philips also serves consumers through personal health products, including electric toothbrushes, oral healthcare systems, mother and child care products, and sleep and respiratory care devices.

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.