Koninklijke Philips (NYSE:PHG) Shares Gap Down to $22.61

Koninklijke Philips (NYSE:PHGGet Rating)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.61, but opened at $20.55. Koninklijke Philips shares last traded at $20.63, with a volume of 69,517 shares trading hands.

A number of brokerages have recently weighed in on PHG. Credit Suisse Group lowered their price target on Koninklijke Philips from €32.50 ($33.85) to €31.00 ($32.29) in a report on Monday, March 28th. JPMorgan Chase & Co. lowered Koninklijke Philips from a “neutral” rating to an “underweight” rating and lowered their price target for the company from €26.50 ($27.60) to €21.30 ($22.19) in a research note on Wednesday, May 25th. AlphaValue lowered Koninklijke Philips to a “buy” rating in a research note on Wednesday, March 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Koninklijke Philips from €35.00 ($36.46) to €30.00 ($31.25) and set a “hold” rating on the stock in a research note on Monday, March 28th. Finally, StockNews.com assumed coverage on Koninklijke Philips in a report on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Koninklijke Philips has an average rating of “Hold” and a consensus target price of $32.08.

The company’s 50-day moving average price is $26.17 and its 200 day moving average price is $31.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.39. The stock has a market capitalization of $18.55 billion, a PE ratio of 4.96, a PEG ratio of 1.21 and a beta of 0.92.

Koninklijke Philips (NYSE:PHGGet Rating) last posted its earnings results on Monday, April 25th. The technology company reported $0.32 EPS for the quarter. Koninklijke Philips had a net margin of 19.56% and a return on equity of 9.19%. The firm had revenue of $4.29 billion during the quarter. Analysts expect that Koninklijke Philips will post 1.73 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Koninklijke Philips by 16.7% during the 1st quarter. Wellington Management Group LLP now owns 8,245,236 shares of the technology company’s stock valued at $251,727,000 after acquiring an additional 1,178,744 shares during the period. Bank of America Corp DE raised its holdings in Koninklijke Philips by 12.6% in the first quarter. Bank of America Corp DE now owns 5,515,016 shares of the technology company’s stock worth $168,373,000 after buying an additional 618,145 shares during the last quarter. BlackRock Inc. raised its holdings in Koninklijke Philips by 59.6% in the first quarter. BlackRock Inc. now owns 4,430,980 shares of the technology company’s stock worth $135,277,000 after buying an additional 1,655,150 shares during the last quarter. American Century Companies Inc. raised its holdings in Koninklijke Philips by 2.9% in the fourth quarter. American Century Companies Inc. now owns 2,465,688 shares of the technology company’s stock worth $90,861,000 after buying an additional 69,253 shares during the last quarter. Finally, Capital International Investors raised its holdings in Koninklijke Philips by 14.7% in the first quarter. Capital International Investors now owns 2,009,989 shares of the technology company’s stock worth $62,564,000 after buying an additional 257,428 shares during the last quarter. 14.84% of the stock is owned by institutional investors.

About Koninklijke Philips (NYSE:PHG)

Koninklijke Philips N.V. operates as a health technology company in North America and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company provides diagnostic imaging solutions, includes magnetic resonance imaging, computed tomography (CT) systems, X-ray systems, and detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; integrated interventional systems; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.

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