ABC Arbitrage SA Purchases New Shares in Koninklijke Philips (NYSE:PHG)

ABC Arbitrage SA purchased a new stake in shares of Koninklijke Philips (NYSE:PHG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,618 shares of the technology company’s stock, valued at approximately $902,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Koninklijke Philips during the 3rd quarter valued at $54,000. Eastern Bank acquired a new stake in Koninklijke Philips during the 3rd quarter valued at $88,000. RPg Family Wealth Advisory LLC acquired a new stake in Koninklijke Philips during the 3rd quarter valued at $107,000. OLD National Bancorp IN acquired a new stake in Koninklijke Philips during the 3rd quarter valued at $202,000. Finally, Cable Hill Partners LLC bought a new position in Koninklijke Philips in the 3rd quarter valued at $203,000. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Stock Down 1.6 %

Shares of PHG opened at $28.16 on Friday. Koninklijke Philips has a 52 week low of $19.55 and a 52 week high of $32.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 1.16. The firm has a market capitalization of $26.47 billion, a price-to-earnings ratio of -67.04, a PEG ratio of 0.90 and a beta of 0.77. The business’s fifty day moving average price is $26.21 and its two-hundred day moving average price is $28.20.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. StockNews.com lowered Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Koninklijke Philips 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.