Koninklijke Philips (NYSE:PHG) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its stake in shares of Koninklijke Philips (NYSE:PHG) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,795 shares of the technology company’s stock after purchasing an additional 1,436 shares during the quarter. NewEdge Wealth LLC’s holdings in Koninklijke Philips were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its position in Koninklijke Philips by 166.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,600 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Advisory Services Network LLC boosted its position in Koninklijke Philips by 28.7% during the 1st quarter. Advisory Services Network LLC now owns 2,226 shares of the technology company’s stock valued at $41,000 after purchasing an additional 496 shares during the period. Credit Suisse AG acquired a new position in Koninklijke Philips during the 2nd quarter valued at approximately $65,000. Allworth Financial LP boosted its position in Koninklijke Philips by 113.3% during the 3rd quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock valued at $65,000 after purchasing an additional 1,722 shares during the period. Finally, Spire Wealth Management boosted its position in Koninklijke Philips by 127.2% during the 3rd quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,929 shares during the period. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

PHG opened at $20.41 on Tuesday. Koninklijke Philips has a one year low of $17.75 and a one year high of $24.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 0.78. The stock’s fifty day moving average is $20.42 and its 200-day moving average is $20.86.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Monday, January 29th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Koninklijke Philips had a positive return on equity of 14.17% and a negative net margin of 2.53%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. On average, equities research analysts forecast that Koninklijke Philips will post 1.52 EPS for the current year.

Analyst Upgrades and Downgrades

PHG has been the topic of several recent analyst reports. BNP Paribas downgraded Koninklijke Philips from an “outperform” rating to an “underperform” rating in a research note on Wednesday, February 7th. StockNews.com raised Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Koninklijke Philips has an average rating of “Moderate Buy” and an average price target of $19.00.

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.