Koninklijke Philips (NYSE:PHG) Reaches New 1-Year High – Here’s What Happened

Koninklijke Philips N.V. (NYSE:PHG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $29.62 and last traded at $29.5810, with a volume of 461503 shares. The stock had previously closed at $29.12.

Analyst Upgrades and Downgrades

PHG has been the topic of several research reports. Wall Street Zen raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Koninklijke Philips in a report on Monday, December 29th. Royal Bank Of Canada initiated coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They set a “sector perform” rating for the company. Finally, Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research note on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Koninklijke Philips presently has a consensus rating of “Hold”.

Koninklijke Philips Stock Performance

The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.68. The company has a market cap of $28.47 billion, a P/E ratio of 147.84, a PEG ratio of 0.74 and a beta of 0.79. The business’s 50 day simple moving average is $27.62 and its 200 day simple moving average is $27.08.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.30 billion. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. Sell-side analysts predict that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Institutional Trading of Koninklijke Philips

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Koninklijke Philips by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,306 shares of the technology company’s stock worth $703,000 after purchasing an additional 388 shares during the period. Franklin Resources Inc. boosted its position in shares of Koninklijke Philips by 3.9% during the third quarter. Franklin Resources Inc. now owns 11,592 shares of the technology company’s stock worth $316,000 after acquiring an additional 439 shares during the last quarter. Kitching Partners LLC grew its stake in Koninklijke Philips by 4.2% during the second quarter. Kitching Partners LLC now owns 11,259 shares of the technology company’s stock valued at $270,000 after acquiring an additional 457 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Koninklijke Philips by 4.4% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 11,357 shares of the technology company’s stock valued at $310,000 after acquiring an additional 478 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in Koninklijke Philips by 5.1% in the 3rd quarter. First Affirmative Financial Network now owns 11,418 shares of the technology company’s stock worth $311,000 after purchasing an additional 550 shares in the last quarter. Institutional investors 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.