Koninklijke Philips (NYSE:PHG) Shares Gap Down – Here’s Why

Shares of Koninklijke Philips N.V. (NYSE:PHG) gapped down prior to trading on Wednesday . The stock had previously closed at $27.01, but opened at $25.46. Koninklijke Philips shares last traded at $25.6550, with a volume of 321,516 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings cut shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Koninklijke Philips Price Performance

The stock has a market capitalization of $24.67 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 6.89 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $27.90 and its 200-day moving average price is $28.39.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Koninklijke Philips had a net margin of 5.49% and a return on equity of 13.51%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.49 billion. As a group, equities analysts forecast that Koninklijke Philips N.V. will post 1.87 EPS for the current year.

Institutional Trading of Koninklijke Philips

A number of hedge funds have recently added to or reduced their stakes in PHG. Royal Bank of Canada lifted its stake in Koninklijke Philips by 1.3% in the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock worth $6,854,000 after acquiring an additional 3,540 shares during the period. AQR Capital Management LLC lifted its stake in Koninklijke Philips by 60.8% in the first quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock worth $432,000 after acquiring an additional 6,429 shares during the period. Goldman Sachs Group Inc. lifted its stake in Koninklijke Philips by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock worth $21,495,000 after acquiring an additional 12,908 shares during the period. Jane Street Group LLC lifted its stake in Koninklijke Philips by 125.8% in the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock worth $2,642,000 after acquiring an additional 57,952 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Koninklijke Philips by 58.0% in the second quarter. JPMorgan Chase & Co. now owns 87,616 shares of the technology company’s stock worth $2,101,000 after acquiring an additional 32,180 shares during the period. 13.67% of the stock is owned by hedge funds and other institutional investors.

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.