Koninklijke Philips (NYSE:PHG) Shares Gap Down to $17.02

Koninklijke Philips (NYSE:PHG – Get Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $17.02, but opened at $15.78. Koninklijke Philips shares last traded at $15.83, with a volume of 507,205 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on PHG shares. Barclays dropped their price target on shares of Koninklijke Philips from €19.00 ($20.43) to €18.50 ($19.89) and set an “overweight” rating on the stock in a research note on Tuesday, January 10th. Societe Generale lowered shares of Koninklijke Philips from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. Morgan Stanley dropped their price target on shares of Koninklijke Philips from €17.00 ($18.28) to €16.00 ($17.20) and set an “equal weight” rating on the stock in a research note on Tuesday, January 17th. UBS Group downgraded Koninklijke Philips from a “neutral” rating to a “sell” rating in a report on Tuesday, January 17th. Finally, StockNews.com began coverage on Koninklijke Philips in a report on Thursday. They issued a “hold” rating for the company. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.56.

Koninklijke Philips Trading Up 2.9 %

The company has a quick ratio of 0.78, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $16.87 and a two-hundred day moving average of $15.57. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of -10.29 and a beta of 0.87.

Institutional Investors Weigh In On Koninklijke Philips

Several hedge funds have recently modified their holdings of PHG. Price T Rowe Associates Inc. MD lifted its holdings in shares of Koninklijke Philips by 15.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 39,303,903 shares of the technology company’s stock worth $844,622,000 after purchasing an additional 5,280,066 shares during the period. Fiduciary Management Inc. WI lifted its holdings in shares of Koninklijke Philips by 26.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 8,687,852 shares of the technology company’s stock worth $130,231,000 after purchasing an additional 1,832,561 shares during the period. BlackRock Inc. lifted its holdings in Koninklijke Philips by 59.6% in the first quarter. BlackRock Inc. now owns 4,430,980 shares of the technology company’s stock valued at $135,277,000 after acquiring an additional 1,655,150 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Koninklijke Philips by 3,812.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,636,961 shares of the technology company’s stock valued at $24,538,000 after acquiring an additional 1,595,116 shares during the period. Finally, Mondrian Investment Partners LTD lifted its holdings in Koninklijke Philips by 306.4% in the fourth quarter. Mondrian Investment Partners LTD now owns 1,944,063 shares of the technology company’s stock valued at $29,142,000 after acquiring an additional 1,465,665 shares during the period. 10.17% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Company Profile

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Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment businesses; Connected Care businesses; Personal Health businesses; and Other. The Diagnosis and Treatment businesses segment consists systems, smart devices, software and services, powered by AI-enabled informatics-that support precision diagnoses and minimally invasive procedures in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology.