Primary Health Properties (LON:PHP) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Primary Health Properties Plc's stock has recently fallen below its 200-day moving average, trading at GBX 93.07 ($1.25) compared to its moving average of GBX 96.80 ($1.31).
• Despite the decline, Shore Capital has reissued a "buy" rating for the stock, which has an average rating of "Buy" and a consensus target price of GBX 107.50.
• Insider activity is notable, with purchases totaling 521,605 shares in the last three months, indicating confidence from management in the company's future performance.

Primary Health Properties Plc (LON:PHP - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 96.80 ($1.31) and traded as low as GBX 93 ($1.26). Primary Health Properties shares last traded at GBX 93.07 ($1.26), with a volume of 15,974,430 shares.

Analysts Set New Price Targets

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

Primary Health Properties Stock Performance

The company has a current ratio of 0.50, a quick ratio of 0.62 and a debt-to-equity ratio of 96.73. The company's fifty day moving average is GBX 95.66 and its 200 day moving average is GBX 96.82. The company has a market cap of £1.23 billion, a P/E ratio of 1,275.75, a price-to-earnings-growth ratio of 5.64 and a beta of 0.41.

Primary Health Properties (LON:PHP - Get Free Report) last released its earnings results on Thursday, July 24th. The real estate investment trust reported GBX 3.50 EPS 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 news, insider Harry Abraham Hyman purchased 4,055 shares of the business's stock in a transaction on Friday, August 15th. The shares were acquired at an average price of GBX 91 per share, with a total value of £3,690.05. Also, insider Ian Krieger purchased 162,800 shares of the business's stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of GBX 92 per share, for a total transaction of £149,776. Over the last 90 days, insiders have purchased 521,605 shares of company stock worth $49,374,392. 2.00% of the stock is currently owned by 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.