Koninklijke Philips N.V. (NYSE:PHG) Stake Raised by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in Koninklijke Philips N.V. (NYSE:PHG) by 116.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,138 shares of the technology company’s stock after buying an additional 73,138 shares during the period. Public Employees Retirement System of Ohio’s holdings in Koninklijke Philips N.V. were worth $4,371,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Koninklijke Philips N.V. by 0.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,708 shares of the technology company’s stock worth $504,000 after buying an additional 44 shares during the last quarter. Carret Asset Management LLC raised its stake in shares of Koninklijke Philips N.V. by 1.9% in the first quarter. Carret Asset Management LLC now owns 9,160 shares of the technology company’s stock worth $294,000 after buying an additional 167 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Koninklijke Philips N.V. by 2.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,767 shares of the technology company’s stock worth $217,000 after buying an additional 167 shares during the last quarter. Salem Capital Management Inc. raised its stake in shares of Koninklijke Philips N.V. by 0.3% in the first quarter. Salem Capital Management Inc. now owns 79,091 shares of the technology company’s stock worth $2,540,000 after buying an additional 212 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Koninklijke Philips N.V. by 3.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,935 shares of the technology company’s stock worth $273,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Shares of Koninklijke Philips N.V. (NYSE:PHG) traded down 0.08% during mid-day trading on Friday, reaching $38.01. 756,116 shares of the company’s stock traded hands. The company’s 50-day moving average price is $36.61 and its 200-day moving average price is $33.39. Koninklijke Philips N.V. has a 12-month low of $26.47 and a 12-month high of $38.61. The stock has a market capitalization of $35.62 billion, a PE ratio of 20.79 and a beta of 1.34.

Koninklijke Philips N.V. (NYSE:PHG) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.18. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period last year, the company earned $0.46 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Koninklijke Philips N.V. will post $1.95 earnings per share for the current year.

Koninklijke Philips N.V. announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase shares. This repurchase authorization permits the technology company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several research analysts recently commented on the company. Zacks Investment Research upgraded Koninklijke Philips N.V. from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub lowered Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price target on shares of Koninklijke Philips N.V. in a research report on Monday, July 3rd. Finally, Natixis lowered Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $35.67.

About Koninklijke Philips N.V.

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

Institutional Ownership by Quarter for Koninklijke Philips N.V. (NYSE:PHG)

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