Koninklijke Philips (NYSE:PHG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Koninklijke Philips N.V. (NYSE:PHG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.76 and traded as high as $29.67. Koninklijke Philips shares last traded at $29.50, with a volume of 2,461,598 shares changing hands.

Analysts Set New Price Targets

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

Koninklijke Philips Price Performance

The company has a 50 day moving average price of $28.11 and a 200-day moving average price of $27.76. The company has a market cap of $28.41 billion, a price-to-earnings ratio of 147.51, a P/E/G ratio of 0.82 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.32 and a debt-to-equity ratio of 0.68.

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

Institutional Investors Weigh In On Koninklijke Philips

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Koninklijke Philips by 1.3% in the first quarter. Royal Bank of Canada now owns 269,829 shares of the technology company’s stock valued at $6,854,000 after acquiring an additional 3,540 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Koninklijke Philips by 60.8% in the 1st quarter. AQR Capital Management LLC now owns 17,010 shares of the technology company’s stock valued at $432,000 after purchasing an additional 6,429 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Koninklijke Philips by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 846,253 shares of the technology company’s stock valued at $21,495,000 after purchasing an additional 12,908 shares during the last quarter. Jane Street Group LLC increased its position in shares of Koninklijke Philips by 125.8% during the first quarter. Jane Street Group LLC now owns 104,024 shares of the technology company’s stock worth $2,642,000 after buying an additional 57,952 shares during the period. Finally, Truist Financial Corp bought a new position in Koninklijke Philips during the second quarter worth $289,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

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.