Koninklijke Philips NV (PHG) Sees Large Volume Increase
Koninklijke Philips NV (NYSE:PHG) saw unusually-high trading volume on Monday . Approximately 4,660,918 shares traded hands during trading, an increase of 122% from the previous session’s volume of 2,103,966 shares.The stock last traded at $26.39 and had previously closed at $26.56.
PHG has been the subject of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Koninklijke Philips NV in a report on Sunday, May 1st. Zacks Investment Research upgraded shares of Koninklijke Philips NV from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Finally, BNP Paribas upgraded shares of Koninklijke Philips NV from a “neutral” rating to an “outperform” rating in a report on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Koninklijke Philips NV has an average rating of “Buy” and an average target price of $30.00.
The firm’s 50-day moving average price is $25.39 and its 200 day moving average price is $26.21. The firm has a market capitalization of $24.47 billion and a price-to-earnings ratio of 30.37.
Koninklijke Philips NV (NYSE:PHG) last posted its earnings results on Monday, July 25th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The business earned $5.86 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts expect that Koninklijke Philips NV will post $1.41 EPS for the current fiscal year.
Other hedge funds have bought and sold shares of the company. Comerica Bank increased its stake in Koninklijke Philips NV by 7.5% in the fourth quarter. Comerica Bank now owns 53,554 shares of the company’s stock worth $1,287,000 after buying an additional 3,745 shares during the period. Russell Frank Co acquired a new stake in Koninklijke Philips NV during the fourth quarter worth $2,211,000. Flippin Bruce & Porter Inc. increased its stake in Koninklijke Philips NV by 0.5% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 204,754 shares of the company’s stock worth $5,211,000 after buying an additional 1,105 shares during the period. Finally, Morgan Stanley increased its stake in Koninklijke Philips NV by 87.0% in the fourth quarter. Morgan Stanley now owns 1,766,952 shares of the company’s stock worth $44,968,000 after buying an additional 822,261 shares during the period.
Koninklijke Philips N.V. is a technology company. The Company operates in the segments of Healthcare, Consumer Lifestyle and Lighting. It operates in the Innovation, Group & Services (IG&S) sector. The Healthcare segment includes imaging systems, customer services, healthcare informatics, solutions and services, and patient care and monitoring solutions.
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