Koninklijke Philips (NYSE:PHG) Releases Earnings Results, Meets Estimates

Koninklijke Philips (NYSE:PHG) issued its quarterly earnings results on Tuesday. The technology company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37, Zacks reports. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.30 billion.

Koninklijke Philips Stock Performance

Shares of Koninklijke Philips stock traded up $0.15 on Wednesday, hitting $28.17. 546,336 shares of the company’s stock were exchanged, compared to its average volume of 935,787. The stock has a market capitalization of $27.13 billion, a PE ratio of 148.32, a PEG ratio of 0.70 and a beta of 0.82. Koninklijke Philips has a 1 year low of $21.48 and a 1 year high of $29.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 1.26. The company has a 50-day simple moving average of $27.84 and a 200-day simple moving average of $25.80.

Hedge Funds Weigh In On Koninklijke Philips

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in Koninklijke Philips by 29.9% during the 2nd quarter. Osaic Holdings Inc. now owns 30,188 shares of the technology company’s stock valued at $729,000 after purchasing an additional 6,951 shares during the period. Orion Porfolio Solutions LLC grew its holdings in Koninklijke Philips by 12.8% in the second quarter. Orion Porfolio Solutions LLC now owns 15,163 shares of the technology company’s stock worth $364,000 after purchasing an additional 1,717 shares during the last quarter. Evergreen Capital Management LLC grew its position in Koninklijke Philips by 52.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,556 shares of the technology company’s stock worth $301,000 after purchasing an additional 4,326 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Koninklijke Philips by 435.0% during the second quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock valued at $5,410,000 after buying an additional 183,444 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Koninklijke Philips by 53.0% during the second quarter. Balyasny Asset Management L.P. now owns 220,668 shares of the technology company’s stock valued at $5,292,000 after buying an additional 76,487 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Koninklijke Philips in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

About Koninklijke Philips

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.