Allspring Global Investments Holdings LLC Boosts Stake in Koninklijke Philips (NYSE:PHG)

Allspring Global Investments Holdings LLC raised its holdings in shares of Koninklijke Philips (NYSE:PHG) by 29.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,347 shares of the technology company’s stock after buying an additional 1,690 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Koninklijke Philips were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Koninklijke Philips by 6.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 60,365 shares of the technology company’s stock valued at $1,207,000 after buying an additional 3,891 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Koninklijke Philips by 6.1% during the first quarter. Commonwealth Equity Services LLC now owns 55,409 shares of the technology company’s stock worth $1,108,000 after purchasing an additional 3,182 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Koninklijke Philips by 31.1% during the first quarter. BNP Paribas Financial Markets now owns 117,201 shares of the technology company’s stock worth $2,344,000 after purchasing an additional 27,799 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Koninklijke Philips by 9.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 23,475 shares of the technology company’s stock valued at $469,000 after acquiring an additional 2,102 shares in the last quarter. Finally, Mondrian Investment Partners LTD boosted its stake in shares of Koninklijke Philips by 45.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 9,553,058 shares of the technology company’s stock valued at $191,061,000 after buying an additional 2,971,008 shares during the period. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

NYSE PHG opened at $26.49 on Monday. The business’s 50 day moving average is $30.78 and its two-hundred day moving average is $28.00. Koninklijke Philips has a 12-month low of $19.49 and a 12-month high of $32.91. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of -63.07, a PEG ratio of 0.92 and a beta of 0.77. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

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.