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Artisan Investments raises stake in Philips to 10%, regulatory filing shows

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U.S. asset management firm Artisan Investments has raised its stake in Philips to 10%, sending the healthcare technology group's shares rising on Wednesday, ...

AMSTERDAM - U.S. asset management firm Artisan Investments has raised its stake in Philips to 10%, sending the healthcare technology group's shares rising on Wednesday, a week after the Dutch company's biggest shareholder also increased its holding.

After raising its stake, Artisan Investments now owns 94.13 million shares in Philips, or about 10% of the company, according to a regulatory filing published earlier. Philips reported a better-than-expected first-quarter profit on April 29, with its adjusted earnings before interest, taxes and amortisation jumping 8% to 388 million euros .

 

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