Koninklijke Philips (NYSE:PHG) Sees Large Volume Increase – What’s Next?

Koninklijke Philips (NYSE:PHG) saw unusually-strong trading volume on Friday . Approximately 1,709,524 shares were traded during mid-day trading, an increase of 159% from the previous session’s volume of 660,937 shares.The stock last traded at $25.34 and had previously closed at $25.03.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PHG shares. Jefferies Financial Group upgraded Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Koninklijke Philips currently has an average rating of “Moderate Buy”.

Koninklijke Philips Stock Up 1.9 %

The company has a 50-day moving average of $26.25 and a 200-day moving average of $28.16. The company has a market capitalization of $23.96 billion, a price-to-earnings ratio of -30.33, a price-to-earnings-growth ratio of 0.82 and a beta of 0.77. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.94%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, equities analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning increased its holdings in shares of Koninklijke Philips by 39.3% in the third quarter. Creative Planning now owns 84,263 shares of the technology company’s stock valued at $2,757,000 after purchasing an additional 23,768 shares during the period. Blue Trust Inc. increased its holdings in shares of Koninklijke Philips by 223.8% in the third quarter. Blue Trust Inc. now owns 11,982 shares of the technology company’s stock valued at $392,000 after purchasing an additional 8,282 shares during the period. OLD National Bancorp IN acquired a new position in shares of Koninklijke Philips in the third quarter valued at about $202,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Koninklijke Philips by 29.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,347 shares of the technology company’s stock valued at $240,000 after purchasing an additional 1,690 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Koninklijke Philips by 6.7% in the third quarter. Signaturefd LLC now owns 28,401 shares of the technology company’s stock valued at $929,000 after purchasing an additional 1,789 shares during the period. 13.67% of the stock is owned by institutional investors and hedge funds.

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.