Koninklijke Philips (NYSE:PHG) Shares Gap Up to $29.72

Koninklijke Philips (NYSE:PHG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $29.72, but opened at $30.49. Koninklijke Philips shares last traded at $30.25, with a volume of 67,698 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Koninklijke Philips Trading Up 1.0 %

The business’s 50 day moving average price is $28.36 and its 200-day moving average price is $25.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $4.80 billion for the quarter. Koninklijke Philips had a negative net margin of 2.35% and a positive return on equity of 10.15%. Sell-side analysts forecast that Koninklijke Philips will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Koninklijke Philips

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Koninklijke Philips in the 4th quarter valued at about $953,000. Wealth Enhancement Advisory Services LLC raised its stake in Koninklijke Philips by 6.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 60,365 shares of the technology company’s stock worth $1,207,000 after acquiring an additional 3,891 shares during the period. Principal Securities Inc. acquired a new stake in Koninklijke Philips during the fourth quarter worth about $27,000. Corient Private Wealth LLC raised its stake in Koninklijke Philips by 21.0% during the fourth quarter. Corient Private Wealth LLC now owns 64,724 shares of the technology company’s stock worth $1,510,000 after acquiring an additional 11,211 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Koninklijke Philips by 12.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 26,515 shares of the technology company’s stock worth $668,000 after acquiring an additional 3,040 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

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.