Elevation Point Wealth Partners LLC Takes $579,000 Position in Koninklijke Philips N.V. $PHG

Elevation Point Wealth Partners LLC purchased a new stake in Koninklijke Philips N.V. (NYSE:PHG) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 21,144 shares of the technology company’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH bought a new position in Koninklijke Philips in the first quarter valued at approximately $213,000. Pzena Investment Management LLC raised its position in shares of Koninklijke Philips by 12.6% during the 1st quarter. Pzena Investment Management LLC now owns 41,643 shares of the technology company’s stock valued at $1,141,000 after acquiring an additional 4,674 shares during the last quarter. Fulton Bank N.A. acquired a new position in shares of Koninklijke Philips in the 1st quarter valued at $253,000. Apollon Wealth Management LLC lifted its stake in shares of Koninklijke Philips by 13.4% in the 1st quarter. Apollon Wealth Management LLC now owns 12,612 shares of the technology company’s stock valued at $346,000 after purchasing an additional 1,492 shares during the period. Finally, Sterling Capital Management LLC boosted its position in shares of Koninklijke Philips by 5.4% in the 1st quarter. Sterling Capital Management LLC now owns 33,357 shares of the technology company’s stock worth $914,000 after purchasing an additional 1,695 shares during the last quarter. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $28.21 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.60. Koninklijke Philips N.V. has a 12-month low of $23.75 and a 12-month high of $33.44. The firm has a fifty day moving average of $26.64 and a 200-day moving average of $28.07. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 6.06 and a beta of 0.75.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research lowered Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

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.