Koninklijke Philips (NYSE:PHG) Releases Quarterly Earnings Results, Hits Estimates

Koninklijke Philips (NYSE:PHG) announced its quarterly earnings results on Tuesday. The technology company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37, Zacks reports. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%.

Koninklijke Philips Stock Performance

Shares of PHG stock opened at $27.19 on Tuesday. Koninklijke Philips has a 52 week low of $21.48 and a 52 week high of $29.28. The firm has a 50 day moving average of $27.84 and a two-hundred day moving average of $25.77. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $26.18 billion, a PE ratio of 143.11, a P/E/G ratio of 0.70 and a beta of 0.82.

Hedge Funds Weigh In On Koninklijke Philips

A number of institutional investors and hedge funds have recently made changes to their positions in PHG. Osaic Holdings Inc. raised its holdings in Koninklijke Philips by 29.9% in the second quarter. Osaic Holdings Inc. now owns 30,188 shares of the technology company’s stock valued at $729,000 after acquiring an additional 6,951 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Koninklijke Philips by 12.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 15,163 shares of the technology company’s stock valued at $364,000 after purchasing an additional 1,717 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Koninklijke Philips by 52.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,556 shares of the technology company’s stock worth $301,000 after purchasing an additional 4,326 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Koninklijke Philips by 435.0% during the second quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock worth $5,410,000 after purchasing an additional 183,444 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Koninklijke Philips by 53.0% in the second quarter. Balyasny Asset Management L.P. now owns 220,668 shares of the technology company’s stock valued at $5,292,000 after buying an additional 76,487 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PHG. Wall Street Zen lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About Koninklijke Philips

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.