Koninklijke Philips N.V. (NYSE:PHG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.77 and last traded at $38.69, with a volume of 884,235 shares traded. The stock had previously closed at $38.06.

PHG has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, June 7th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price target on shares of Koninklijke Philips N.V. in a research note on Monday, July 3rd. Natixis cut shares of Koninklijke Philips N.V. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Deutsche Bank AG cut shares of Koninklijke Philips N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Koninklijke Philips N.V. in a research note on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Koninklijke Philips N.V. presently has an average rating of “Buy” and an average target price of $37.00.

The stock has a market cap of $36.24 billion, a P/E ratio of 21.00 and a beta of 1.34. The stock has a 50-day moving average price of $37.59 and a 200 day moving average price of $34.67.

Koninklijke Philips N.V. (NYSE:PHG) last posted its earnings results on Monday, July 24th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.18. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same quarter last year, the firm earned $0.46 EPS. Koninklijke Philips N.V.’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts expect that Koninklijke Philips N.V. will post $1.95 earnings per share for the current year.

Koninklijke Philips N.V. announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase shares. This repurchase authorization allows the technology company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of PHG. YorkBridge Wealth Partners LLC acquired a new stake in Koninklijke Philips N.V. in the first quarter worth about $122,000. IFP Advisors Inc boosted its holdings in Koninklijke Philips N.V. by 10.5% in the first quarter. IFP Advisors Inc now owns 4,748 shares of the technology company’s stock worth $152,000 after acquiring an additional 452 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Koninklijke Philips N.V. in the first quarter worth about $156,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Koninklijke Philips N.V. by 47.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,959 shares of the technology company’s stock worth $159,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in Koninklijke Philips N.V. in the second quarter worth about $203,000. 7.56% of the stock is owned by institutional investors and hedge funds.

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Koninklijke Philips N.V. Company Profile

Koninklijke Philips N.V. is a health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, and Lighting. The Company’s Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.