Koninklijke Philips (NYSE:PHG) Shares Gap Down to $17.60

Koninklijke Philips (NYSE:PHGGet Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $17.60, but opened at $17.10. Koninklijke Philips shares last traded at $17.10, with a volume of 13,465 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PHG shares. JPMorgan Chase & Co. cut their target price on Koninklijke Philips from €21.30 ($21.73) to €18.80 ($19.18) and set an “underweight” rating on the stock in a research report on Wednesday, July 27th. Societe Generale upgraded Koninklijke Philips from a “hold” rating to a “buy” rating and reduced their price objective for the stock from €22.40 ($22.86) to €21.00 ($21.43) in a research note on Monday, September 12th. Barclays reduced their price objective on Koninklijke Philips from €45.00 ($45.92) to €39.00 ($39.80) in a research note on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their target price on Koninklijke Philips from €25.00 ($25.51) to €24.00 ($24.49) and set a “hold” rating on the stock in a research note on Tuesday, July 5th. Finally, UBS Group upgraded Koninklijke Philips from a “sell” rating to a “neutral” rating in a research note on Monday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.97.

Koninklijke Philips Price Performance

The stock has a 50 day moving average of $18.98 and a two-hundred day moving average of $23.68. The stock has a market cap of $14.73 billion, a PE ratio of 4.08, a PEG ratio of 1.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 1.19.

Hedge Funds Weigh In On Koninklijke Philips

A number of institutional investors have recently bought and sold shares of PHG. Price T Rowe Associates Inc. MD increased its stake in Koninklijke Philips by 15.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 39,303,903 shares of the technology company’s stock worth $844,622,000 after purchasing an additional 5,280,066 shares in the last quarter. BlackRock Inc. grew its stake in Koninklijke Philips by 59.6% during the 1st quarter. BlackRock Inc. now owns 4,430,980 shares of the technology company’s stock valued at $135,277,000 after acquiring an additional 1,655,150 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Koninklijke Philips during the 1st quarter valued at about $50,119,000. Pendal Group Ltd purchased a new position in Koninklijke Philips during the 1st quarter valued at about $41,513,000. Finally, Wellington Management Group LLP grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 14.26% of the company’s stock.

About Koninklijke Philips

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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.

Further Reading

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