Brandes Investment Partners LP Sells 167,971 Shares of Koninklijke Philips (NYSE:PHG)

Brandes Investment Partners LP cut its stake in shares of Koninklijke Philips (NYSE:PHG) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,212,374 shares of the technology company’s stock after selling 167,971 shares during the quarter. Brandes Investment Partners LP’s holdings in Koninklijke Philips were worth $30,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning increased its holdings in Koninklijke Philips by 36.9% in the 2nd quarter. Creative Planning now owns 60,495 shares of the technology company’s stock worth $1,524,000 after purchasing an additional 16,296 shares in the last quarter. Kitching Partners LLC increased its stake in shares of Koninklijke Philips by 3.4% in the second quarter. Kitching Partners LLC now owns 10,802 shares of the technology company’s stock valued at $272,000 after buying an additional 356 shares during the period. Millennium Management LLC raised its holdings in Koninklijke Philips by 822.0% in the 2nd quarter. Millennium Management LLC now owns 1,120,521 shares of the technology company’s stock valued at $28,237,000 after buying an additional 998,995 shares during the last quarter. Marshall Wace LLP acquired a new stake in Koninklijke Philips during the 2nd quarter worth approximately $1,065,000. Finally, Bank of Montreal Can grew its holdings in Koninklijke Philips by 52.1% during the 2nd quarter. Bank of Montreal Can now owns 32,921 shares of the technology company’s stock worth $866,000 after acquiring an additional 11,282 shares during the last quarter. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Stock Up 3.7 %

Shares of NYSE PHG opened at $32.74 on Monday. Koninklijke Philips has a 12-month low of $17.75 and a 12-month high of $32.88. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $30.77 billion, a PE ratio of -34.10, a P/E/G ratio of 1.02 and a beta of 0.73. The company’s fifty day simple moving average is $29.41 and its 200 day simple moving average is $26.13.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. The firm had revenue of $4.80 billion during the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. As a group, sell-side analysts forecast that Koninklijke Philips will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Koninklijke Philips 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.