Kayne Anderson Rudnick Investment Management LLC Has $443,000 Position in Koninklijke Philips (NYSE:PHG)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in Koninklijke Philips (NYSE:PHG) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,580 shares of the technology company’s stock after selling 8,906 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Koninklijke Philips were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in Koninklijke Philips in the fourth quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in Koninklijke Philips during the first quarter worth $40,000. CWM LLC boosted its stake in Koninklijke Philips by 21.9% during the second quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after acquiring an additional 616 shares in the last quarter. Blue Trust Inc. grew its holdings in Koninklijke Philips by 902.7% in the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock worth $93,000 after purchasing an additional 3,331 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Koninklijke Philips in the first quarter valued at $91,000. Institutional investors own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Koninklijke Philips Trading Down 1.4 %

NYSE PHG opened at $30.15 on Tuesday. Koninklijke Philips has a 52 week low of $17.75 and a 52 week high of $31.50. The business has a 50 day moving average price of $28.97 and a 200-day moving average price of $25.84. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The company has a market cap of $28.33 billion, a price-to-earnings ratio of -31.40, a P/E/G ratio of 1.06 and a beta of 0.73.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. Koninklijke Philips had a negative net margin of 2.35% and a positive return on equity of 10.15%. The business had revenue of $4.80 billion during the quarter. As a group, equities analysts expect that Koninklijke Philips will post 1.51 earnings per share for the current fiscal year.

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.