Global Retirement Partners LLC Buys 975 Shares of Koninklijke Philips (NYSE:PHG)

Posted by Defense World Staff on Aug 14th, 2023

Global Retirement Partners LLC raised its stake in Koninklijke Philips (NYSE:PHG – Free Report) by 47.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,016 shares of the technology company’s stock after acquiring an additional 975 shares during the quarter. Global Retirement Partners LLC’s holdings in Koninklijke Philips were worth $63,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fiduciary Management Inc. WI grew its position in shares of Koninklijke Philips by 26.7% during the 4th quarter. Fiduciary Management Inc. WI now owns 8,687,852 shares of the technology company’s stock worth $130,231,000 after purchasing an additional 1,832,561 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Koninklijke Philips by 16.7% during the 1st 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 in the last quarter. BlackRock Inc. boosted its position in Koninklijke Philips by 59.6% in the first quarter. BlackRock Inc. now owns 4,430,980 shares of the technology company’s stock valued at $135,277,000 after buying an additional 1,655,150 shares in the last quarter. Morgan Stanley boosted its position in Koninklijke Philips by 9.9% in the fourth quarter. Morgan Stanley now owns 3,351,702 shares of the technology company’s stock valued at $50,242,000 after buying an additional 302,633 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in Koninklijke Philips by 31.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,224,514 shares of the technology company’s stock valued at $48,336,000 after buying an additional 768,123 shares in the last quarter. 6.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PHG. TheStreet raised shares of Koninklijke Philips from a “d+” rating to a “c-” rating in a research note on Monday, July 24th. Citigroup raised their price target on shares of Koninklijke Philips to €19.00 ($20.88) in a research note on Friday, July 7th. The Goldman Sachs Group assumed coverage on shares of Koninklijke Philips in a research note on Wednesday, July 12th. They set a “buy” rating for the company. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Societe Generale raised shares of Koninklijke Philips from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.06.

Check Out Our Latest Research Report on Koninklijke Philips

Koninklijke Philips Price Performance

PHG stock opened at $20.26 on Monday. Koninklijke Philips has a one year low of $11.75 and a one year high of $23.30. The stock has a market cap of $18.81 billion, a PE ratio of -8.66 and a beta of 0.93. The firm has a 50 day simple moving average of $20.97 and a two-hundred day simple moving average of $19.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.69.

Koninklijke Philips (NYSE:PHG – Get Free Report) last issued its quarterly earnings results on Sunday, July 23rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Koninklijke Philips had a negative net margin of 10.84% and a positive return on equity of 7.95%. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business earned $0.15 EPS. On average, analysts predict that Koninklijke Philips will post 1.11 EPS for the current fiscal year.

Koninklijke Philips Profile

(Free Report)

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company 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; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.