Elevation Point Wealth Partners LLC Makes New Investment in Koninklijke Philips N.V. $PHG

Elevation Point Wealth Partners LLC acquired a new stake in shares of Koninklijke Philips N.V. (NYSE:PHG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,144 shares of the technology company’s stock, valued at approximately $579,000.

A number of other large investors have also modified their holdings of PHG. Morgan Stanley increased its holdings in Koninklijke Philips by 11.0% in the 4th quarter. Morgan Stanley now owns 2,841,880 shares of the technology company’s stock valued at $76,958,000 after buying an additional 282,661 shares during the period. Causeway Capital Management LLC increased its stake in Koninklijke Philips by 5.8% in the third quarter. Causeway Capital Management LLC now owns 1,958,112 shares of the technology company’s stock valued at $53,378,000 after acquiring an additional 107,117 shares during the period. Northern Trust Corp raised its position in Koninklijke Philips by 8.1% in the third quarter. Northern Trust Corp now owns 1,922,551 shares of the technology company’s stock worth $52,409,000 after purchasing an additional 143,811 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Koninklijke Philips by 6.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,725,997 shares of the technology company’s stock worth $46,740,000 after purchasing an additional 107,356 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Koninklijke Philips by 1.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 973,527 shares of the technology company’s stock valued at $26,363,000 after purchasing an additional 17,431 shares in the last quarter. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Price Performance

Koninklijke Philips stock opened at $28.21 on Wednesday. The business’s fifty day moving average is $26.64 and its two-hundred day moving average is $28.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.32. The firm has a market cap of $27.72 billion, a P/E ratio of 24.17, a P/E/G ratio of 6.06 and a beta of 0.75. Koninklijke Philips N.V. has a 52 week low of $23.75 and a 52 week high of $33.44.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a return on equity of 13.51% and a net margin of 5.49%. Equities research analysts forecast that Koninklijke Philips N.V. will post 1.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PHG shares. Weiss Ratings upgraded Koninklijke Philips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research lowered shares of Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.