Koninklijke Philips (NYSE:PHG) Sees Unusually-High Trading Volume – Here’s Why

Koninklijke Philips (NYSE:PHG) shares saw an uptick in trading volume on Friday . 1,709,524 shares were traded during mid-day trading, an increase of 159% from the previous session’s volume of 660,937 shares.The stock last traded at $25.34 and had previously closed at $25.03.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PHG. Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The stock has a market capitalization of $24.00 billion, a P/E ratio of -30.40, a PEG ratio of 0.82 and a beta of 0.77. The company’s 50 day simple moving average is $26.25 and its two-hundred day simple moving average is $28.14.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, equities analysts expect that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Institutional Trading of Koninklijke Philips

Several hedge funds have recently modified their holdings of PHG. Creative Planning grew its stake in shares of Koninklijke Philips by 39.3% during the third quarter. Creative Planning now owns 84,263 shares of the technology company’s stock valued at $2,757,000 after purchasing an additional 23,768 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Koninklijke Philips by 29.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,347 shares of the technology company’s stock valued at $240,000 after buying an additional 1,690 shares during the period. Eastern Bank acquired a new position in Koninklijke Philips in the third quarter valued at approximately $88,000. International Assets Investment Management LLC acquired a new position in Koninklijke Philips in the third quarter valued at approximately $1,360,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Koninklijke Philips in the third quarter valued at approximately $292,000. 13.67% of the stock is owned by institutional investors.

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.