AMSTERDAM—Philips shares plunged more than 11 percent on Wednesday morning after the Dutch health technology company hiked the cost of its massive recall of ventilators and said earnings would take a big hit from global supply chain shortages. The supplier of hospital equipment and personal health devices said it expected fourth-quarter core profit to drop almost 40 percent to about 650 million euros ($739 million), as it continued to scramble for memory chips and other parts. “It’s a difficult situation,” CEO Frans van Houten told reporters. “We had shortages of several components and saw port congestion, sometimes up to 2 or 3 weeks. All of this meant our manufactured goods couldn’t reach customers in time.” Comparable sales fell 10 percent on a yearly basis to 4.9 billion euros, Philips said, as hospitals had to postpone the installation of equipment due to a lack of parts. Van Houten said the supply …