Koninklijke Philips (NYSE:PHG) Shares Gap Down Following Weak Earnings

Koninklijke Philips (NYSE:PHG)’s share price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $28.31, but opened at $24.79. Koninklijke Philips shares last traded at $24.47, with a volume of 405,188 shares changing hands.

The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.11% and a negative net margin of 1.83%.

Analysts Set New Price Targets

PHG has been the topic of several recent research reports. StockNews.com cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Koninklijke Philips presently has a consensus rating of “Hold”.

Institutional Trading of Koninklijke Philips

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Koninklijke Philips by 0.6% in the 3rd quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock worth $200,859,000 after purchasing an additional 35,935 shares in the last quarter. Creative Planning increased its holdings in shares of Koninklijke Philips by 39.3% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Koninklijke Philips by 315.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock valued at $8,040,000 after purchasing an additional 186,520 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Koninklijke Philips during the 3rd quarter valued at approximately $1,360,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Koninklijke Philips during the 3rd quarter valued at approximately $4,622,000. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $23.55 billion, a PE ratio of -59.65, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The firm’s fifty day moving average price is $26.26 and its two-hundred day moving average price is $28.18.

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.