abrdn plc Takes Position in Koninklijke Philips (NYSE:PHG)

abrdn plc purchased a new stake in Koninklijke Philips (NYSE:PHG) in the fourth quarter, Holdings Channel reports. The firm purchased 114,765 shares of the technology company’s stock, valued at approximately $2,677,000.

Other large investors have also made changes to their positions in the company. Allworth Financial LP grew its position in shares of Koninklijke Philips by 113.3% in the third quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock valued at $65,000 after purchasing an additional 1,722 shares in the last quarter. Spire Wealth Management grew its position in Koninklijke Philips by 127.2% in the third quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,929 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Koninklijke Philips in the fourth quarter worth approximately $140,000. PAX Financial Group LLC purchased a new position in Koninklijke Philips in the third quarter worth approximately $199,000. Finally, Contravisory Investment Management Inc. purchased a new position in Koninklijke Philips in the fourth quarter worth approximately $200,000. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Price Performance

Shares of Koninklijke Philips stock opened at $21.07 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $20.43 and a 200 day moving average of $20.94. Koninklijke Philips has a fifty-two week low of $17.75 and a fifty-two week high of $24.27.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 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 company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.47 billion. As a group, sell-side analysts forecast that Koninklijke Philips will post 1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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