Cubist Systematic Strategies LLC trimmed its stake in Koninklijke Philips NV (NYSE:PHG) by 23.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,046 shares of the technology company’s stock after selling 6,922 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Koninklijke Philips were worth $908,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA raised its stake in shares of Koninklijke Philips by 12.7% in the third quarter. Granahan Investment Management Inc. MA now owns 14,033 shares of the technology company’s stock worth $578,000 after purchasing an additional 1,578 shares during the last quarter. Jane Street Group LLC purchased a new stake in Koninklijke Philips during the third quarter valued at $18,600,000. First Republic Investment Management Inc. purchased a new stake in Koninklijke Philips during the third quarter valued at $210,000. Apriem Advisors purchased a new stake in Koninklijke Philips during the third quarter valued at $1,942,000. Finally, Private Advisor Group LLC purchased a new stake in Koninklijke Philips during the third quarter valued at $480,000. 7.23% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on PHG shares. Zacks Investment Research upgraded Koninklijke Philips from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, September 26th. Citigroup reiterated a “buy” rating on shares of Koninklijke Philips in a research report on Tuesday, October 24th. BNP Paribas cut Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. Finally, JPMorgan Chase & Co. cut Koninklijke Philips from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.50.
Shares of Koninklijke Philips NV (PHG) traded up $0.72 during trading on Friday, reaching $40.64. The company had a trading volume of 1,184,775 shares, compared to its average volume of 1,011,825. Koninklijke Philips NV has a 52 week low of $28.71 and a 52 week high of $42.35. The company has a market capitalization of $37,399.49, a price-to-earnings ratio of 24.19, a PEG ratio of 2.48 and a beta of 1.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.15 and a current ratio of 1.40.
Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.27 billion. Koninklijke Philips had a net margin of 6.67% and a return on equity of 7.19%. Koninklijke Philips’s quarterly revenue was down 29.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. sell-side analysts predict that Koninklijke Philips NV will post 1.39 earnings per share for the current year.
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Koninklijke Philips Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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