Renaissance Technologies LLC lowered its position in shares of Koninklijke Philips NV (NYSE:PHG) by 67.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,347 shares of the technology company’s stock after selling 285,431 shares during the period. Renaissance Technologies LLC’s holdings in Koninklijke Philips were worth $5,951,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Koninklijke Philips by 436.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 85,890 shares of the technology company’s stock valued at $3,628,000 after acquiring an additional 69,874 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Koninklijke Philips by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 124,313 shares of the technology company’s stock valued at $5,255,000 after acquiring an additional 2,425 shares in the last quarter. BlackRock Inc. boosted its position in Koninklijke Philips by 16.7% during the 2nd quarter. BlackRock Inc. now owns 5,826,531 shares of the technology company’s stock valued at $246,287,000 after acquiring an additional 832,894 shares in the last quarter. Tower Bridge Advisors bought a new stake in Koninklijke Philips during the 2nd quarter valued at approximately $245,000. Finally, US Bancorp DE boosted its position in Koninklijke Philips by 166.3% during the 2nd quarter. US Bancorp DE now owns 82,141 shares of the technology company’s stock valued at $3,472,000 after acquiring an additional 51,291 shares in the last quarter. 4.86% of the stock is owned by hedge funds and other institutional investors.
Shares of PHG opened at $40.75 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Koninklijke Philips NV has a 52 week low of $35.47 and a 52 week high of $46.67. The company has a market capitalization of $42.15 billion, a PE ratio of 32.86, a P/E/G ratio of 4.48 and a beta of 1.14.
Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Monday, July 23rd. The technology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.15). Koninklijke Philips had a return on equity of 7.81% and a net margin of 7.30%. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts forecast that Koninklijke Philips NV will post 1.85 earnings per share for the current fiscal year.
Several analysts have weighed in on PHG shares. Zacks Investment Research cut Koninklijke Philips from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Exane BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 18th. ValuEngine raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Credit Suisse Group cut Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Finally, BNP Paribas raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Koninklijke Philips currently has an average rating of “Buy” and a consensus price target of $48.00.
Koninklijke Philips Profile
Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.
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