Koninklijke Philips NV (NYSE:PHG) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 957,400 shares, a drop of 8.7% from the July 31st total of 1,048,700 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 610,000 shares, the short-interest ratio is presently 1.6 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Koninklijke Philips by 15.6% during the 1st quarter. BlackRock Inc. now owns 6,945,570 shares of the technology company’s stock worth $283,796,000 after buying an additional 936,983 shares during the last quarter. Morgan Stanley lifted its holdings in Koninklijke Philips by 59.4% during the 2nd quarter. Morgan Stanley now owns 1,568,350 shares of the technology company’s stock worth $68,349,000 after buying an additional 584,489 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Koninklijke Philips by 10.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,258,159 shares of the technology company’s stock worth $54,831,000 after buying an additional 114,137 shares during the last quarter. Northern Trust Corp lifted its holdings in Koninklijke Philips by 3.1% during the 2nd quarter. Northern Trust Corp now owns 935,683 shares of the technology company’s stock worth $40,777,000 after buying an additional 27,850 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Koninklijke Philips by 3.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 693,042 shares of the technology company’s stock worth $30,203,000 after buying an additional 23,165 shares during the last quarter. 4.12% of the stock is owned by institutional investors.
NYSE:PHG traded up $0.20 during midday trading on Friday, reaching $47.77. The company had a trading volume of 819,341 shares, compared to its average volume of 705,857. The firm has a market capitalization of $43.02 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.40 and a beta of 1.25. The stock’s fifty day simple moving average is $46.65 and its 200-day simple moving average is $42.62. Koninklijke Philips has a 12-month low of $32.98 and a 12-month high of $48.28. The company has a current ratio of 1.27, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40.
Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, July 22nd. The technology company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $5.25 billion during the quarter. Koninklijke Philips had a return on equity of 13.79% and a net margin of 7.34%. As a group, sell-side analysts expect that Koninklijke Philips will post 2.14 EPS for the current year.
A number of research analysts recently issued reports on PHG shares. Citigroup started coverage on Koninklijke Philips in a report on Tuesday, July 30th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Koninklijke Philips in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.00.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.
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