Russell Investments Group Ltd. Boosts Position in Koninklijke Philips (NYSE:PHG)

Russell Investments Group Ltd. boosted its holdings in Koninklijke Philips (NYSE:PHG) by 85.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,033,823 shares of the technology company’s stock after purchasing an additional 476,907 shares during the quarter. Russell Investments Group Ltd.’s holdings in Koninklijke Philips were worth $24,119,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PHG. Brandywine Global Investment Management LLC acquired a new position in shares of Koninklijke Philips in the 3rd quarter valued at $36,544,000. Envestnet Asset Management Inc. lifted its position in Koninklijke Philips by 29.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,447,942 shares of the technology company’s stock valued at $28,872,000 after acquiring an additional 328,922 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in Koninklijke Philips in the third quarter valued at $4,323,000. FMR LLC boosted its stake in Koninklijke Philips by 1.7% in the third quarter. FMR LLC now owns 9,516,906 shares of the technology company’s stock valued at $189,767,000 after acquiring an additional 155,055 shares in the last quarter. Finally, Barclays PLC purchased a new position in shares of Koninklijke Philips during the third quarter worth about $2,310,000. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Up 0.8 %

PHG opened at $26.78 on Thursday. Koninklijke Philips has a 52 week low of $17.75 and a 52 week high of $29.44. The business has a 50 day moving average price of $20.83 and a two-hundred day moving average price of $21.09. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Monday, January 29th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Koninklijke Philips had a positive return on equity of 9.82% and a negative net margin of 4.41%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.47 billion. On average, equities research analysts predict that Koninklijke Philips will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PHG. StockNews.com raised Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised Koninklijke Philips from an “underweight” rating to a “neutral” rating in a report on Tuesday. BNP Paribas cut shares of Koninklijke Philips from an “outperform” rating to an “underperform” rating in a report on Wednesday, February 7th. Finally, UBS Group upgraded shares of Koninklijke Philips from a “sell” rating to a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.00.

Koninklijke Philips Company 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.