Koninklijke Philips (NYSE:PHG) Shares Gap Up – Still a Buy?

Koninklijke Philips N.V. (NYSE:PHG) gapped up before the market opened on Tuesday. The stock had previously closed at $27.59, but opened at $29.01. Koninklijke Philips shares last traded at $28.6450, with a volume of 1,259,066 shares trading hands.

Analyst Ratings Changes

PHG has been the subject of a number of research reports. UBS Group downgraded Koninklijke Philips from a “buy” rating to a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 21st. Finally, Zacks Research raised shares of Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Hold”.

Koninklijke Philips Stock Down 1.7%

The company has a fifty day simple moving average of $25.69 and a 200 day simple moving average of $27.24. The firm has a market capitalization of $30.00 billion, a P/E ratio of 15.53, a P/E/G ratio of 9.83 and a beta of 0.74. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.

Institutional Investors Weigh In On Koninklijke Philips

Several institutional investors and hedge funds have recently made changes to their positions in PHG. Bank of America Corp DE lifted its position in Koninklijke Philips by 7.7% in the 1st quarter. Bank of America Corp DE now owns 700,141 shares of the technology company’s stock valued at $19,184,000 after acquiring an additional 50,124 shares in the last quarter. Investment Management Associates Inc. ADV boosted its stake in Koninklijke Philips by 1.5% during the 1st quarter. Investment Management Associates Inc. ADV now owns 515,007 shares of the technology company’s stock valued at $14,111,000 after purchasing an additional 7,743 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Koninklijke Philips by 13.1% in the 1st quarter. Royal Bank of Canada now owns 495,310 shares of the technology company’s stock worth $13,572,000 after purchasing an additional 57,514 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Koninklijke Philips by 4.7% in the 1st quarter. Sei Investments Co. now owns 486,941 shares of the technology company’s stock worth $13,343,000 after purchasing an additional 22,039 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Koninklijke Philips by 18.9% in the 2nd quarter. Tidal Investments LLC now owns 401,637 shares of the technology company’s stock worth $10,921,000 after purchasing an additional 63,868 shares in the last quarter. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. is a Netherlands-based health technology company that develops products, services and software for healthcare providers, patients and consumers. Its portfolio includes diagnostic imaging systems, such as magnetic resonance imaging, computed tomography and X-ray equipment; ultrasound systems; image-guided therapy technologies; patient monitoring and hospital informatics solutions; and connected care products.

Philips also serves consumers through personal health products, including electric toothbrushes, oral healthcare systems, mother and child care products, and sleep and respiratory care devices.