Koninklijke Philips NV (NYSE:PHG) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 957,400 shares, a decline of 8.7% from the July 31st total of 1,048,700 shares. Based on an average daily volume of 610,000 shares, the short-interest ratio is currently 1.6 days. Approximately 0.1% of the shares of the company are sold short.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHG. BlackRock Inc. increased its position in Koninklijke Philips by 15.6% during the 1st quarter. BlackRock Inc. now owns 6,945,570 shares of the technology company’s stock worth $283,796,000 after purchasing an additional 936,983 shares during the period. Morgan Stanley increased its position in Koninklijke Philips by 59.4% during the 2nd quarter. Morgan Stanley now owns 1,568,350 shares of the technology company’s stock worth $68,349,000 after purchasing an additional 584,489 shares during the period. Renaissance Technologies LLC increased its position in Koninklijke Philips by 245.5% during the 2nd quarter. Renaissance Technologies LLC now owns 474,248 shares of the technology company’s stock worth $20,613,000 after purchasing an additional 336,968 shares during the period. Edge Capital Group LLC acquired a new position in Koninklijke Philips during the 2nd quarter worth approximately $8,228,000. Finally, Citigroup Inc. boosted its stake in shares of Koninklijke Philips by 638.7% during the 1st quarter. Citigroup Inc. now owns 182,897 shares of the technology company’s stock worth $7,473,000 after acquiring an additional 158,137 shares in the last quarter. Institutional investors own 4.12% of the company’s stock.
NYSE PHG traded up $0.20 on Friday, hitting $47.77. 819,341 shares of the company’s stock were exchanged, compared to its average volume of 705,857. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.27 and a quick ratio of 0.85. The firm’s 50-day moving average price is $46.65 and its two-hundred day moving average price is $42.62. Koninklijke Philips has a fifty-two week low of $32.98 and a fifty-two week high of $48.28. The firm has a market cap of $43.02 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.40 and a beta of 1.25.
Several research firms have issued reports on PHG. Citigroup began coverage on Koninklijke Philips in a research report on Tuesday, July 30th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Koninklijke Philips in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.00.
Koninklijke Philips Company Profile
Koninklijke Philips N.V. operates as a health technology company worldwide. It operates through Diagnosis & Treatment, Connected Care & Health Informatics, and Personal Health segments. The company offers mother, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care.
Featured Article: Trading on Margin
Receive News & Ratings for Koninklijke Philips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koninklijke Philips and related companies with MarketBeat.com's FREE daily email newsletter.