Pzena Investment Management LLC Sells 9,507 Shares of Koninklijke Philips (NYSE:PHG)

Pzena Investment Management LLC cut its position in Koninklijke Philips (NYSE:PHG) by 40.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,737 shares of the technology company’s stock after selling 9,507 shares during the quarter. Pzena Investment Management LLC’s holdings in Koninklijke Philips were worth $346,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $953,000. Truist Financial Corp raised its stake in shares of Koninklijke Philips by 8.5% during the 4th quarter. Truist Financial Corp now owns 39,431 shares of the technology company’s stock valued at $920,000 after purchasing an additional 3,097 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $263,000. Private Advisor Group LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $368,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $261,000. 13.67% of the stock is currently owned by institutional investors.

Koninklijke Philips Price Performance

Koninklijke Philips stock opened at $29.81 on Thursday. Koninklijke Philips has a 52 week low of $17.75 and a 52 week high of $30.71. The business has a 50-day simple moving average of $27.80 and a 200 day simple moving average of $24.87. 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 stock has a market cap of $28.01 billion, a price-to-earnings ratio of -31.05, a PEG ratio of 1.04 and a beta of 0.73.

Koninklijke Philips (NYSE:PHG) last posted its earnings results on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The business had revenue of $4.80 billion during the quarter. On average, research analysts forecast that Koninklijke Philips will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PHG has been the topic of a number of analyst reports. StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Sanford C. Bernstein upgraded Koninklijke Philips from a “market perform” rating to an “outperform” rating in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Koninklijke Philips has an average rating of “Hold”.

Koninklijke Philips Profile

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.