Forum Financial Management LP Trims Holdings in Koninklijke Philips N.V. $PHG

Forum Financial Management LP cut its holdings in Koninklijke Philips N.V. (NYSE:PHG) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,137 shares of the technology company’s stock after selling 1,566 shares during the quarter. Forum Financial Management LP’s holdings in Koninklijke Philips were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHG. GAMMA Investing LLC grew its position in shares of Koninklijke Philips by 25.8% in the 1st quarter. GAMMA Investing LLC now owns 13,789 shares of the technology company’s stock worth $350,000 after buying an additional 2,826 shares during the period. Bessemer Group Inc. grew its position in shares of Koninklijke Philips by 2,935.4% in the 1st quarter. Bessemer Group Inc. now owns 1,973 shares of the technology company’s stock worth $51,000 after buying an additional 1,908 shares during the period. Aurora Private Wealth Inc. purchased a new stake in shares of Koninklijke Philips in the 1st quarter worth about $1,695,000. Timber Creek Capital Management LLC grew its position in shares of Koninklijke Philips by 512.5% in the 1st quarter. Timber Creek Capital Management LLC now owns 105,185 shares of the technology company’s stock worth $2,672,000 after buying an additional 88,012 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Koninklijke Philips by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 59,244 shares of the technology company’s stock valued at $1,505,000 after purchasing an additional 3,668 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHG has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Koninklijke Philips in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Trading Up 0.2%

Koninklijke Philips stock opened at $28.90 on Tuesday. The firm’s 50 day moving average price is $27.88 and its 200-day moving average price is $25.62. Koninklijke Philips N.V. has a 1 year low of $21.48 and a 1 year high of $29.29. The stock has a market cap of $27.82 billion, a P/E ratio of 152.08, a PEG ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.81.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.12. Koninklijke Philips had a return on equity of 11.95% and a net margin of 1.00%.The company had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, equities analysts predict that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Company 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.