abrdn plc Purchases Shares of 114,765 Koninklijke Philips (NYSE:PHG)

abrdn plc purchased a new stake in shares of Koninklijke Philips (NYSE:PHG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 114,765 shares of the technology company’s stock, valued at approximately $2,677,000.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in Koninklijke Philips during the 4th quarter valued at approximately $473,000. HighTower Advisors LLC lifted its stake in shares of Koninklijke Philips by 73.9% in the 3rd quarter. HighTower Advisors LLC now owns 28,270 shares of the technology company’s stock valued at $562,000 after purchasing an additional 12,010 shares during the last quarter. Barclays PLC bought a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $2,310,000. Glenmede Trust Co. NA lifted its stake in shares of Koninklijke Philips by 53.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,065 shares of the technology company’s stock valued at $679,000 after purchasing an additional 11,875 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Koninklijke Philips by 29.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,447,942 shares of the technology company’s stock valued at $28,872,000 after purchasing an additional 328,922 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $21.07 on Monday. Koninklijke Philips has a 52-week low of $17.75 and a 52-week 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 has a 50 day moving average price of $20.43 and a 200 day moving average price of $20.94.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share (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 firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. On average, research analysts forecast that Koninklijke Philips will post 1.53 EPS for the current fiscal year.

Analyst Ratings Changes

PHG has been the subject of several analyst reports. StockNews.com raised Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. BNP Paribas lowered Koninklijke Philips from an “outperform” rating to an “underperform” rating in a research note on Wednesday, February 7th.

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.