Koninklijke Philips N.V. (NYSE:PHG) – Analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Koninklijke Philips N.V. in a research note issued on Tuesday. Jefferies Group analyst P. Reilly now forecasts that the technology company will earn $1.16 per share for the year, down from their previous forecast of $1.36. Jefferies Group also issued estimates for Koninklijke Philips N.V.’s FY2018 earnings at $1.73 EPS.

Koninklijke Philips N.V. (NYSE:PHG) last issued its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04). The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Koninklijke Philips N.V. had a return on equity of 7.19% and a net margin of 6.67%. The company’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS.

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A number of other research firms have also commented on PHG. Zacks Investment Research raised Koninklijke Philips N.V. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, September 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Tuesday, October 24th. BNP Paribas lowered Koninklijke Philips N.V. from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Koninklijke Philips N.V. in a research report on Monday, July 24th. Finally, BidaskClub lowered Koninklijke Philips N.V. from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.50.

Hedge funds have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. bought a new position in Koninklijke Philips N.V. in the second quarter valued at approximately $233,000. YorkBridge Wealth Partners LLC lifted its position in shares of Koninklijke Philips N.V. by 8.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,783 shares of the technology company’s stock valued at $135,000 after buying an additional 309 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Koninklijke Philips N.V. by 243.7% in the third quarter. Whittier Trust Co. now owns 4,781 shares of the technology company’s stock valued at $197,000 after buying an additional 3,390 shares during the last quarter. Park National Corp OH acquired a new stake in shares of Koninklijke Philips N.V. in the third quarter valued at approximately $201,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Koninklijke Philips N.V. by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,333 shares of the technology company’s stock valued at $191,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 7.56% of the company’s stock.

In related news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 29,693,444 shares in the company, valued at $44,540,166. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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.

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