Koninklijke Philips (NYSE:PHG) Shares Gap Down – Here’s What Happened

Koninklijke Philips (NYSE:PHG) gapped down prior to trading on Monday . The stock had previously closed at $31.67, but opened at $26.19. Koninklijke Philips shares last traded at $26.33, with a volume of 1,458,827 shares traded.

Wall Street Analysts Forecast Growth

PHG has been the topic of several recent research reports. Jefferies Financial Group raised Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Koninklijke Philips currently has a consensus rating of “Hold”.

Koninklijke Philips Trading Up 0.8 %

The business’s 50-day simple moving average is $31.00 and its 200-day simple moving average is $27.88. The company has a market cap of $25.22 billion, a PE ratio of -50.63, a P/E/G ratio of 1.04 and a beta of 0.74. 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 quarterly earnings data on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The business had revenue of $4.80 billion during the quarter. As a group, analysts expect that Koninklijke Philips will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Koninklijke Philips

Several large investors have recently made changes to their positions in PHG. Allspring Global Investments Holdings LLC acquired a new stake in Koninklijke Philips in the first quarter valued at approximately $40,000. Fairscale Capital LLC bought a new stake in Koninklijke Philips in the second quarter worth $54,000. CWM LLC increased its position 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 buying an additional 616 shares during the last quarter. Eastern Bank bought a new position in Koninklijke Philips during the third quarter valued at about $88,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Koninklijke Philips in the first quarter worth about $91,000. Institutional investors own 13.67% of the company’s stock.

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.