Highland Capital Management LLC Decreases Stake in Koninklijke Philips (NYSE:PHG)

Highland Capital Management LLC cut its stake in shares of Koninklijke Philips (NYSE:PHG) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,074 shares of the technology company’s stock after selling 1,501 shares during the period. Highland Capital Management LLC’s holdings in Koninklijke Philips were worth $1,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. raised its position in shares of Koninklijke Philips by 166.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,600 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Advisory Services Network LLC increased its position in Koninklijke Philips by 28.7% during the first quarter. Advisory Services Network LLC now owns 2,226 shares of the technology company’s stock valued at $41,000 after acquiring an additional 496 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Koninklijke Philips by 113.3% in the 3rd quarter. Allworth Financial LP now owns 3,242 shares of the technology company’s stock worth $65,000 after purchasing an additional 1,722 shares during the period. Credit Suisse AG purchased a new position in shares of Koninklijke Philips during the 2nd quarter worth $65,000. Finally, Spire Wealth Management grew its holdings in Koninklijke Philips by 127.2% during the third quarter. Spire Wealth Management now owns 3,446 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,929 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

Shares of PHG stock traded up $0.31 during trading hours on Wednesday, hitting $20.35. 305,179 shares of the company’s stock were exchanged, compared to its average volume of 1,009,118. Koninklijke Philips has a fifty-two week low of $16.18 and a fifty-two week high of $24.27. 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 firm has a 50 day moving average of $21.06 and a two-hundred day moving average of $20.93.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Koninklijke Philips had a negative net margin of 2.53% and a positive return on equity of 14.17%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. On average, equities research analysts predict that Koninklijke Philips will post 1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PHG has been the subject of a number of research analyst reports. BNP Paribas lowered shares of Koninklijke Philips from an “outperform” rating to an “underperform” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Koninklijke Philips 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.