Koninklijke Philips N.V. $PHG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 32.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,770 shares of the technology company’s stock after selling 35,238 shares during the period. QRG Capital Management Inc.’s holdings in Koninklijke Philips were worth $2,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brandes Investment Partners LP lifted its stake in Koninklijke Philips by 54.3% during the 2nd quarter. Brandes Investment Partners LP now owns 1,530,918 shares of the technology company’s stock worth $36,712,000 after acquiring an additional 538,715 shares in the last quarter. Investment Management Associates Inc. ADV purchased a new stake in Koninklijke Philips during the second quarter worth about $12,122,000. Tower Research Capital LLC TRC lifted its position in shares of Koninklijke Philips by 435.0% during the second quarter. Tower Research Capital LLC TRC now owns 225,616 shares of the technology company’s stock worth $5,410,000 after purchasing an additional 183,444 shares in the last quarter. ABC Arbitrage SA boosted its stake in shares of Koninklijke Philips by 137.8% in the second quarter. ABC Arbitrage SA now owns 240,461 shares of the technology company’s stock valued at $5,766,000 after purchasing an additional 139,353 shares during the period. Finally, Midwest Trust Co purchased a new position in shares of Koninklijke Philips in the second quarter valued at approximately $3,033,000. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PHG shares. Weiss Ratings upgraded shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Royal Bank Of Canada assumed coverage on Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating for the company. Zacks Research downgraded Koninklijke Philips from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein raised Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Koninklijke Philips Stock Performance

Shares of Koninklijke Philips stock opened at $29.59 on Tuesday. The firm has a market capitalization of $28.49 billion, a P/E ratio of 147.96, a P/E/G ratio of 0.84 and a beta of 0.79. Koninklijke Philips N.V. has a 52 week low of $21.48 and a 52 week high of $30.30. The company has a quick ratio of 0.86, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $27.84 and its two-hundred day moving average is $27.37.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.30 billion. Research analysts forecast that Koninklijke Philips N.V. will post 1.63 EPS for the current fiscal year.

About Koninklijke Philips

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.