Primary Health Properties (LON:PHP) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Primary Health Properties' share price has fallen below its 200-day moving average of GBX 96.72, reaching a low of GBX 90.90 during trading.
• Shore Capital has reiterated a "buy" rating for Primary Health Properties despite the recent decline in stock price.
• Insiders have shown confidence by purchasing a total of 354,750 shares in the last 90 days, indicating potential optimism about the company's future.

Primary Health Properties Plc (LON:PHP - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 96.72 ($1.31) and traded as low as GBX 90.90 ($1.23). Primary Health Properties shares last traded at GBX 91.67 ($1.24), with a volume of 29,081,477 shares changing hands.

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a "buy" rating on shares of Primary Health Properties in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Primary Health Properties currently has a consensus rating of "Buy" and a consensus price target of GBX 107.50.

Primary Health Properties Price Performance

The stock has a market capitalization of £1.24 billion, a PE ratio of -144.33, a P/E/G ratio of 5.64 and a beta of 0.41. The company has a debt-to-equity ratio of 96.73, a current ratio of 0.50 and a quick ratio of 0.62. The stock's fifty day moving average is GBX 97.36 and its 200-day moving average is GBX 96.76.

Primary Health Properties (LON:PHP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported GBX 3.50 earnings per share for the quarter. Primary Health Properties had a negative net margin of 4.84% and a negative return on equity of 0.61%. As a group, equities analysts predict that Primary Health Properties Plc will post 7.0875912 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Primary Health Properties news, insider Harry Abraham Hyman bought 25,660 shares of Primary Health Properties stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of GBX 96 per share, for a total transaction of £24,633.60. Also, insider Ivonne Cantu purchased 31,181 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of GBX 96 per share, for a total transaction of £29,933.76. Over the last 90 days, insiders have bought 521,605 shares of company stock valued at $49,374,392. 2.81% of the stock is owned by corporate insiders.

Primary Health Properties Company Profile

Primary Health Properties plc is a leading investor in modern primary healthcare properties. The Company acquires or forward funds the development of modern, purpose-built premises that are leased to GP's, government healthcare bodies, pharmacies and other providers of related healthcare services.