Primary Health Properties (LON:PHP) Stock Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Primary Health Properties Plc's stock has fallen below its 200-day moving average, trading as low as GBX 89 ($1.19), with the current price at GBX 90.10 ($1.20).
• Despite the decline in stock price, Shore Capital maintains a "buy" rating on the shares, with an average consensus price target of GBX 105.
• Insiders have shown confidence in the company by buying a combined total of 753,169 shares over the last quarter, indicating potential long-term belief in the stock's recovery.

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 95.98 ($1.28) and traded as low as GBX 89 ($1.19). Primary Health Properties shares last traded at GBX 90.10 ($1.20), with a volume of 15,781,908 shares traded.

Analyst Ratings Changes

Separately, Shore Capital reiterated a "buy" rating on shares of Primary Health Properties in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Primary Health Properties has an average rating of "Buy" and a consensus price target of GBX 105.

Primary Health Properties Trading Up 1.1%

The business has a fifty day moving average price of GBX 91.09 and a 200 day moving average price of GBX 95.98. The company has a market capitalization of £2.34 billion, a PE ratio of 1,265.36, 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 quick ratio of 0.62 and a current ratio of 0.50.

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

Insider Buying and Selling

In other news, insider Harry Abraham Hyman acquired 25,660 shares of the business's stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of GBX 96 per share, for a total transaction of £24,633.60. Also, insider Ivonne Cantu bought 31,181 shares of the stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of GBX 96 per share, with a total value of £29,933.76. Over the last quarter, insiders bought 753,169 shares of company stock worth $69,983,588. Corporate insiders own 1.05% of the company's stock.

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.

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