Lorne Steinberg Wealth Management Inc. Trims Stake in Koninklijke Philips (NYSE:PHG)

Lorne Steinberg Wealth Management Inc. lessened its position in Koninklijke Philips (NYSE:PHG) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 107,966 shares of the technology company’s stock after selling 1,988 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Koninklijke Philips were worth $2,519,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Koninklijke Philips by 8.4% in the third quarter. CWM LLC now owns 16,984 shares of the technology company’s stock worth $339,000 after purchasing an additional 1,311 shares during the last quarter. IFP Advisors Inc lifted its stake in Koninklijke Philips by 11.4% during the 3rd quarter. IFP Advisors Inc now owns 10,212 shares of the technology company’s stock valued at $204,000 after acquiring an additional 1,044 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Koninklijke Philips by 166.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,600 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Roof Eidam Maycock Peralta LLC grew its stake in shares of Koninklijke Philips by 14.9% in the third quarter. Roof Eidam Maycock Peralta LLC now owns 23,175 shares of the technology company’s stock worth $462,000 after acquiring an additional 3,011 shares during the period. Finally, Hardman Johnston Global Advisors LLC lifted its position in Koninklijke Philips by 558.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 122,163 shares of the technology company’s stock valued at $2,436,000 after purchasing an additional 103,610 shares during the period. 13.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PHG. StockNews.com raised Koninklijke Philips from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. BNP Paribas downgraded shares of Koninklijke Philips from an “outperform” rating to an “underperform” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Koninklijke Philips has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Koninklijke Philips Price Performance

NYSE PHG traded down $0.11 on Wednesday, reaching $20.90. The company had a trading volume of 283,321 shares, compared to its average volume of 994,027. The company has a quick ratio of 0.78, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $19.41 billion, a PE ratio of -36.86, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $24.27. The firm’s 50 day moving average price is $20.39 and its 200 day moving average price is $20.89.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Monday, January 29th. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Koninklijke Philips had a positive return on equity of 14.17% and a negative net margin of 2.53%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.47 billion. As a group, equities analysts predict that Koninklijke Philips will post 1.53 earnings per share for the current year.

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.