Koninklijke Philips N.V. (NYSE:PHG) issued its quarterly earnings data on Monday. The technology company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04), Briefing.com reports. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.27 billion. Koninklijke Philips N.V. had a net margin of 6.39% and a return on equity of 8.92%. The business’s revenue was down 29.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS.

Shares of Koninklijke Philips N.V. (NYSE:PHG) opened at 41.57 on Monday. The company’s 50-day moving average price is $40.95 and its 200 day moving average price is $37.15. The company has a market cap of $38.95 billion, a P/E ratio of 21.99 and a beta of 1.36. Koninklijke Philips N.V. has a 52 week low of $28.19 and a 52 week high of $42.25.

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

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In other news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $1.50, for a total transaction of $5,001,879.00. Following the completion of the sale, the insider now owns 29,693,444 shares in the company, valued at $44,540,166. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

PHG has been the topic of a number of analyst reports. Canaccord Genuity reissued a “buy” rating and set a $37.00 price objective on shares of Koninklijke Philips N.V. in a report on Monday, July 3rd. Zacks Investment Research raised Koninklijke Philips N.V. from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, August 29th. J P Morgan Chase & Co reissued a “buy” rating on shares of Koninklijke Philips N.V. in a report on Monday, July 24th. BidaskClub lowered Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, BNP Paribas lowered Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a report on Monday, October 16th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $37.67.

Koninklijke Philips N.V. Company Profile

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

Earnings History for Koninklijke Philips N.V. (NYSE:PHG)

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