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

by · The Markets Daily

Koninklijke Philips N.V. (NYSE:PHG – Get Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $28.04, but opened at $26.43. Koninklijke Philips shares last traded at $26.5160, with a volume of 495,931 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Koninklijke Philips in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy”.

Get Our Latest Analysis on Koninklijke Philips

Koninklijke Philips Stock Performance

The company’s fifty day simple moving average is $27.93 and its 200 day simple moving average is $26.31. The stock has a market capitalization of $25.52 billion, a P/E ratio of 132.55, a P/E/G ratio of 0.76 and a beta of 0.79. The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.68.

Koninklijke Philips (NYSE:PHG – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.30 billion. Koninklijke Philips had a return on equity of 12.14% and a net margin of 1.07%. As a group, sell-side analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHG. Mondrian Investment Partners LTD bought a new stake in Koninklijke Philips during the third quarter valued at approximately $215,529,000. Fiduciary Management Inc. WI lifted its holdings in shares of Koninklijke Philips by 21.7% during the 1st quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company’s stock worth $190,900,000 after acquiring an additional 1,339,055 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Koninklijke Philips by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company’s stock worth $111,662,000 after acquiring an additional 106,044 shares in the last quarter. Causeway Capital Management LLC increased its stake in Koninklijke Philips by 5.8% in the third quarter. Causeway Capital Management LLC now owns 1,958,112 shares of the technology company’s stock valued at $53,378,000 after acquiring an additional 107,117 shares during the last quarter. Finally, Northern Trust Corp raised its position in Koninklijke Philips by 8.1% during the third quarter. Northern Trust Corp now owns 1,922,551 shares of the technology company’s stock valued at $52,409,000 after purchasing an additional 143,811 shares in the last quarter. 13.67% of the stock is currently owned by institutional investors.

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.

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