Koninklijke Philips (NYSE:PHG) Reaches New 52-Week High – What’s Next?

Koninklijke Philips N.V. (NYSE:PHG) shares reached a new 52-week high during mid-day trading on Thursday . The company 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 Ratings Changes

PHG has been the topic of a number of recent research reports. Royal Bank Of Canada assumed coverage on shares of Koninklijke Philips in a research report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. Wall Street Zen lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Koninklijke Philips in a research note on Monday, December 29th. Finally, Sanford C. Bernstein raised Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Koninklijke Philips presently has an average 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 firm has a market capitalization of $28.41 billion, a P/E ratio of 147.58, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. The business’s 50 day simple moving average is $27.53 and its two-hundred day simple moving average is $27.02.

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

Hedge Funds Weigh In On Koninklijke Philips

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Johnson Financial Group Inc. bought a new position in shares of Koninklijke Philips during the 3rd quarter valued at $27,000. AlphaCore Capital LLC purchased a new position in shares of Koninklijke Philips during the 2nd quarter worth $41,000. Whipplewood Advisors LLC increased its stake in shares of Koninklijke Philips by 39.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company’s stock worth $51,000 after purchasing an additional 592 shares in the last quarter. MAI Capital Management raised its holdings in Koninklijke Philips by 167.7% in the 2nd quarter. MAI Capital Management now owns 2,380 shares of the technology company’s stock worth $57,000 after purchasing an additional 1,491 shares during the period. Finally, Root Financial Partners LLC purchased a new position in Koninklijke Philips during the third quarter valued at $83,000. 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.