Goldman Sachs reaffirmed their buy rating on shares of Koninklijke Philips NV (NYSE:PHG) in a report published on Wednesday morning, MarketBeat.com reports.

Koninklijke Philips NV (NYSE:PHG) traded down 0.41% on Wednesday, hitting $26.57. The company had a trading volume of 832,601 shares. The firm’s 50 day moving average price is $25.38 and its 200 day moving average price is $25.95. The stock has a market cap of $24.37 billion and a P/E ratio of 34.73. Koninklijke Philips NV has a 12-month low of $23.16 and a 12-month high of $30.43.

Koninklijke Philips NV (NYSE:PHG) last posted its earnings results on Tuesday, January 26th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.61. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $25 billion. Koninklijke Philips NV’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Equities analysts predict that Koninklijke Philips NV will post $1.43 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have made changes to their positions in the company. World Asset Management Inc boosted its position in shares of Koninklijke Philips NV by 2.4% in the fourth quarter. World Asset Management Inc now owns 49,889 shares of the company’s stock worth $1,270,000 after buying an additional 1,163 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Koninklijke Philips NV by 41.5% in the fourth quarter. Nationwide Fund Advisors now owns 27,911 shares of the company’s stock worth $710,000 after buying an additional 8,191 shares in the last quarter. BB&T Corp boosted its position in shares of Koninklijke Philips NV by 10.8% in the fourth quarter. BB&T Corp now owns 84,891 shares of the company’s stock worth $2,161,000 after buying an additional 8,250 shares in the last quarter. Cambiar Investors LLC boosted its position in shares of Koninklijke Philips NV by 11.9% in the fourth quarter. Cambiar Investors LLC now owns 3,179,155 shares of the company’s stock worth $80,909,000 after buying an additional 338,908 shares in the last quarter. Finally, Russell Frank Co acquired a new position in shares of Koninklijke Philips NV during the fourth quarter worth approximately $2,211,000.

PHG has been the topic of several other reports. Zacks Investment Research raised Koninklijke Philips NV from a sell rating to a hold rating in a research report on Tuesday, November 17th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Koninklijke Philips NV in a research report on Thursday, October 8th. Finally, ING Group began coverage on Koninklijke Philips NV in a research report on Friday, November 27th. They issued a hold rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $30.00.

Koninklijke Philips N.V. is a technology company. The Company operates in the segments of Healthcare, Consumer Lifestyle and Lighting. It operates in the Innovation, Group & Services (NYSE:PHG) sector. The Healthcare segment includes imaging systems, customer services, healthcare informatics, solutions and services, and patient care and monitoring solutions. The Consumer lifestyle segment includes personal care, domestic appliances and health and wellness solutions. The Lighting segment offers various lighting solutions across a range of market segments. The Innovation, Group & Services sector includes the activities of Group Innovation and Group and regional management organizations. Additionally, the global shared business services for procurement, finance, human resources, information technology (IT) and real estate are reported in this sector. It has around 93 production sites in 25 countries and sales and service outlets in approximately 100 countries.

12 Month Chart for NYSE:PHG

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