Koninklijke Philips (NYSE:PHG) Shares Pass Above 200-Day Moving Average – Here’s Why

Koninklijke Philips N.V. (NYSE:PHG) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.56 and traded as high as $26.58. Koninklijke Philips shares last traded at $26.48, with a volume of 626,941 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Koninklijke Philips in a research report on Monday. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Koninklijke Philips Price Performance

The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 132.41, a PEG ratio of 0.71 and a beta of 0.79. The company’s 50 day moving average is $27.81 and its 200 day moving average is $26.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 0.86.

Koninklijke Philips (NYSE:PHG) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Koninklijke Philips had a net margin of 1.07% and a return on equity of 12.14%. The company had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.30 billion. Research analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Koninklijke Philips

Several hedge funds have recently bought and sold shares of PHG. Mondrian Investment Partners LTD purchased a new position in shares of Koninklijke Philips in the third quarter valued at $215,529,000. Fiduciary Management Inc. WI increased its holdings in Koninklijke Philips by 21.7% during the 1st quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company’s stock valued at $190,900,000 after acquiring an additional 1,339,055 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Koninklijke Philips by 54.3% during the 2nd quarter. Brandes Investment Partners LP now owns 1,530,918 shares of the technology company’s stock valued at $36,712,000 after acquiring an additional 538,715 shares in the last quarter. Investment Management Associates Inc. ADV acquired a new position in Koninklijke Philips during the second quarter worth about $12,122,000. Finally, Morningstar Investment Management LLC purchased a new stake in shares of Koninklijke Philips in the third quarter valued at about $5,434,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

About Koninklijke Philips

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.