Short Interest in Koninklijke Philips NV (NYSE:PHG) Drops By 5.5%

Koninklijke Philips NV (NYSE:PHG) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 703,900 shares, a decline of 5.5% from the May 15th total of 745,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 634,300 shares, the short-interest ratio is currently 1.1 days.

Koninklijke Philips stock traded down $0.64 during midday trading on Friday, hitting $43.51. 754,199 shares of the company were exchanged, compared to its average volume of 504,401. The stock has a fifty day simple moving average of $42.55. The company has a market cap of $40.30 billion, a P/E ratio of 20.92, a PEG ratio of 1.25 and a beta of 1.23. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. Koninklijke Philips has a fifty-two week low of $32.98 and a fifty-two week high of $46.67.

Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.16. Koninklijke Philips had a return on equity of 11.94% and a net margin of 6.10%. The company had revenue of $4.71 billion for the quarter. On average, sell-side analysts predict that Koninklijke Philips will post 2.25 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Cornerstone Advisors Inc. increased its holdings in shares of Koninklijke Philips by 130.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 611 shares of the technology company’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Destination Wealth Management increased its holdings in shares of Koninklijke Philips by 37.8% in the 2nd quarter. Destination Wealth Management now owns 868 shares of the technology company’s stock valued at $38,000 after acquiring an additional 238 shares during the last quarter. Legacy Advisors LLC bought a new stake in shares of Koninklijke Philips in the 1st quarter valued at approximately $37,000. Hanson McClain Inc. bought a new stake in shares of Koninklijke Philips in the 1st quarter valued at approximately $41,000. Finally, BSW Wealth Partners bought a new stake in shares of Koninklijke Philips in the 1st quarter valued at approximately $50,000. Institutional investors own 4.00% of the company’s stock.

About Koninklijke Philips

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.

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