Koninklijke Philips (NYSE:PHG) Reaches New 12-Month High at $29.58

Shares of Koninklijke Philips (NYSE:PHG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.58 and last traded at $29.57, with a volume of 21612 shares traded. The stock had previously closed at $29.38.

Wall Street Analyst Weigh In

PHG has been the topic of several recent analyst reports. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Sanford C. Bernstein upgraded Koninklijke Philips from a “market perform” rating to an “outperform” rating in a report on Monday, May 13th. BNP Paribas raised Koninklijke Philips from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 7th. UBS Group raised Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised shares of Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Koninklijke Philips currently has an average rating of “Hold”.

Koninklijke Philips Trading Up 0.3 %

The firm has a fifty day simple moving average of $27.03 and a two-hundred day simple moving average of $24.23. The firm has a market capitalization of $28.07 billion, a P/E ratio of -31.10, a price-to-earnings-growth ratio of 1.00 and a beta of 0.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The firm had revenue of $4.80 billion for the quarter. On average, equities research analysts anticipate that Koninklijke Philips will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new position in Koninklijke Philips in the 4th quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in shares of Koninklijke Philips in the first quarter worth $40,000. Fairscale Capital LLC purchased a new position in shares of Koninklijke Philips in the second quarter valued at $54,000. Fifth Third Bancorp raised its stake in shares of Koninklijke Philips by 34.4% during the 1st quarter. Fifth Third Bancorp now owns 3,008 shares of the technology company’s stock valued at $60,000 after purchasing an additional 770 shares during the period. Finally, CWM LLC lifted its holdings in Koninklijke Philips by 21.9% during the 2nd quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.

About Koninklijke Philips

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.