Primary Health Properties (LON:PHP) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Primary Health Properties Plc shares recently rose above their 200-day moving average, trading at GBX 96.15 ($1.27), indicating a potential positive trend in the stock's performance.
• Shore Capital has maintained a "buy" rating for Primary Health Properties, suggesting confidence in the company's future prospects.
• Insider purchases have been notable, with insiders acquiring 163,928 shares worth approximately $15.7 million in the past three months, demonstrating confidence among company executives.

Primary Health Properties Plc (LON:PHP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 96.33 ($1.28) and traded as high as GBX 96.45 ($1.28). Primary Health Properties shares last traded at GBX 96.15 ($1.28), with a volume of 7,429,535 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a "buy" rating on shares of Primary Health Properties in a report on Monday, May 19th.

Primary Health Properties Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.50 and a debt-to-equity ratio of 96.73. The business's 50-day simple moving average is GBX 98.57 and its 200 day simple moving average is GBX 96.46. The firm has a market capitalization of £1.30 billion, a P/E ratio of -150.63, a PEG ratio of 5.64 and a beta of 0.41.

Primary Health Properties (LON:PHP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported GBX 3.50 ($0.05) EPS for the quarter. Primary Health Properties had a negative return on equity of 0.61% and a negative net margin of 4.84%. Sell-side analysts forecast that Primary Health Properties Plc will post 7.0875912 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Bandhana Rawal acquired 11,000 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of GBX 96 ($1.27) per share, for a total transaction of £10,560 ($14,022.04). Also, insider Ivonne Cantu acquired 31,181 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of GBX 96 ($1.27) per share, with a total value of £29,933.76 ($39,747.39). Over the last 90 days, insiders bought 163,928 shares of company stock worth $15,737,088. 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.