Koninklijke Philips (NYSE:PHG) Holdings Cut by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC lowered its stake in shares of Koninklijke Philips (NYSE:PHG) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,978 shares of the technology company’s stock after selling 916 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Koninklijke Philips were worth $888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Koninklijke Philips by 87.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock worth $56,266,000 after acquiring an additional 1,038,321 shares in the last quarter. Northern Trust Corp increased its position in Koninklijke Philips by 36.6% in the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company’s stock worth $40,734,000 after purchasing an additional 430,757 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Koninklijke Philips during the 4th quarter worth about $10,655,000. GAMMA Investing LLC lifted its holdings in shares of Koninklijke Philips by 3,094.8% during the 1st quarter. GAMMA Investing LLC now owns 350,241 shares of the technology company’s stock valued at $8,896,000 after buying an additional 339,278 shares during the last quarter. Finally, Causeway Capital Management LLC grew its stake in shares of Koninklijke Philips by 24.0% in the 4th quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company’s stock valued at $39,673,000 after buying an additional 303,428 shares in the last quarter. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group upgraded shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised shares of Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Koninklijke Philips presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Stock Up 0.3%

Shares of PHG stock opened at $23.04 on Monday. The stock’s 50 day simple moving average is $23.97 and its 200 day simple moving average is $25.50. Koninklijke Philips has a twelve month low of $21.48 and a twelve month high of $32.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23. The company has a market capitalization of $21.66 billion, a price-to-earnings ratio of -27.43, a PEG ratio of 0.82 and a beta of 0.81.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, research analysts predict that Koninklijke Philips will post 1.63 EPS for the current 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.