AMSTERDAM, July 3 (Reuters) - 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.

At 1045 GMT, Philips shares were up 1.66% at 23.90 euros,

outperforming the Dutch stock market blue-chip AEX

(+1.05%) as well as the Stoxx Europe 600 healthcare index

(-0.1%).

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.

"Artisan has owned more than 9% in Philips for quite

some time and has recently increased their stake to 10% after

(our) Q1 results. We see this as a signal of trust in our

strategy and plan," a Philips spokesperson told Reuters.

Artisan Investments is now Philips' second-largest

shareholder behind Exor, the investment arm of Italy's

Agnelli family,

which increased its stake to 17.51% last week

.

Philips reported a better-than-expected first-quarter

profit on April 29, with its adjusted earnings before interest,

taxes and amortisation (EBITA) jumping 8% to 388 million euros

($417.22 million).

The company also announced a

smaller-than-expected settlement

on the same day to resolve claims over recalled breathing

devices in the U.S.

($1 = 0.9300 euros)

(Reporting by Toby Sterling and Benoit Van Overstraeten;

Editing by Louise Heavens and Anil D'Silva)