Koninklijke Philips (NYSE:PHG) Shares Gap Up After Better-Than-Expected Earnings

Koninklijke Philips N.V. (NYSE:PHG) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $25.66, but opened at $28.36. Koninklijke Philips shares last traded at $28.27, with a volume of 443,621 shares changing hands.

The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.12. The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.67%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Investors Weigh In On Koninklijke Philips

Several institutional investors have recently made changes to their positions in PHG. Gallacher Capital Management LLC lifted its holdings in Koninklijke Philips by 3.5% during the 2nd quarter. Gallacher Capital Management LLC now owns 16,771 shares of the technology company’s stock valued at $402,000 after buying an additional 573 shares in the last quarter. Choreo LLC grew its position in shares of Koninklijke Philips by 4.6% in the 1st quarter. Choreo LLC now owns 14,530 shares of the technology company’s stock worth $369,000 after buying an additional 633 shares during the last quarter. Allworth Financial LP grew its position in shares of Koninklijke Philips by 16.2% in the 1st quarter. Allworth Financial LP now owns 4,638 shares of the technology company’s stock worth $115,000 after buying an additional 645 shares during the last quarter. Roof Eidam Maycock Peralta LLC grew its position in shares of Koninklijke Philips by 4.2% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 17,165 shares of the technology company’s stock worth $412,000 after buying an additional 695 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Koninklijke Philips by 16.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,221 shares of the technology company’s stock worth $134,000 after buying an additional 732 shares during the last quarter. Institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

The business’s 50-day moving average price is $23.89 and its 200-day moving average price is $24.97. The company has a current ratio of 1.28, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market cap of $25.81 billion, a PE ratio of 141.05, a P/E/G ratio of 0.81 and a beta of 0.76.

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.