Clark Estates Inc. NY Purchases 100,000 Shares of Koninklijke Philips (NYSE:PHG)

Posted by Defense World Staff on Mar 9th, 2023

Clark Estates Inc. NY raised its position in Koninklijke Philips (NYSE:PHG – Get Rating) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 950,000 shares of the technology company’s stock after buying an additional 100,000 shares during the period. Koninklijke Philips accounts for about 3.2% of Clark Estates Inc. NY’s investment portfolio, making the stock its 9th biggest position. Clark Estates Inc. NY owned 0.11% of Koninklijke Philips worth $14,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Koninklijke Philips by 15.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 39,303,903 shares of the technology company’s stock worth $844,622,000 after acquiring an additional 5,280,066 shares during the last quarter. BlackRock Inc. raised its stake in shares of Koninklijke Philips by 59.6% in the first quarter. BlackRock Inc. now owns 4,430,980 shares of the technology company’s stock worth $135,277,000 after acquiring an additional 1,655,150 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Koninklijke Philips by 16.7% in the first quarter. Wellington Management Group LLP now owns 8,245,236 shares of the technology company’s stock worth $251,727,000 after acquiring an additional 1,178,744 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Koninklijke Philips by 476.3% in the first quarter. Renaissance Technologies LLC now owns 1,283,821 shares of the technology company’s stock worth $39,289,000 after acquiring an additional 1,061,054 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Koninklijke Philips by 20.6% in the second quarter. FMR LLC now owns 6,030,927 shares of the technology company’s stock worth $129,846,000 after acquiring an additional 1,030,242 shares during the last quarter. 10.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PHG shares. Societe Generale downgraded shares of Koninklijke Philips from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. Sanford C. Bernstein initiated coverage on shares of Koninklijke Philips in a research note on Tuesday. They set a “market perform” rating for the company. Morgan Stanley dropped their price target on shares of Koninklijke Philips from €17.00 ($18.09) to €16.00 ($17.02) and set an “equal weight” rating for the company in a research note on Tuesday, January 17th. Barclays dropped their price target on shares of Koninklijke Philips from €19.00 ($20.21) to €18.50 ($19.68) and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Finally, UBS Group downgraded shares of Koninklijke Philips from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 17th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Koninklijke Philips currently has an average rating of “Hold” and a consensus price target of $18.56.

Koninklijke Philips Stock Performance

Shares of NYSE PHG opened at $16.45 on Thursday. The firm has a 50 day moving average price of $16.75 and a 200 day moving average price of $15.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.78 and a current ratio of 1.29. Koninklijke Philips has a 52-week low of $11.75 and a 52-week high of $32.21.

Koninklijke Philips Profile

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Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment businesses; Connected Care businesses; Personal Health businesses; and Other. The Diagnosis and Treatment businesses segment consists systems, smart devices, software and services, powered by AI-enabled informatics-that support precision diagnoses and minimally invasive procedures in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology.