Primary Health Properties (LON:PHP) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Primary Health Properties Plc (LON:PHP)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 97.51 and traded as low as GBX 92.25. Primary Health Properties shares last traded at GBX 93.10, with a volume of 6,634,691 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHP. JPMorgan Chase & Co. increased their price target on Primary Health Properties from GBX 100 to GBX 105 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a report on Wednesday, June 24th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 118 target price on shares of Primary Health Properties in a research report on Thursday, July 2nd. Berenberg Bank reiterated a “buy” rating and set a GBX 128 target price on shares of Primary Health Properties in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 115 target price on shares of Primary Health Properties in a report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 114.20.

Primary Health Properties Stock Performance

The company has a market cap of £2.42 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 5.64 and a beta of 0.79. The company has a debt-to-equity ratio of 129.48, a quick ratio of 0.62 and a current ratio of 6.67. The company has a fifty day moving average of GBX 92.93 and a two-hundred day moving average of GBX 97.48.

About Primary Health Properties

PHP invests in flexible, modern properties for local primary healthcare.

The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.

To achieve this, PHP invests in healthcare real estate let on long-term leases, backed by secure underlying covenants where the majority of rental income is funded directly or indirectly by a government body.