Grifols (NASDAQ:GRFS) Reaches New 52-Week High - Here's Why

Key Points

• Grifols' stock reached a new 52-week high of $10.50, reflecting a significant increase from its previous close of $10.09, with over 3.6 million shares traded.
• Several analysts have updated their ratings, with Wall Street Zen upgrading Grifols to a "strong-buy" and JPMorgan raising its price target to $10.30.
• Institutional investors have been actively modifying their stakes, with notable increases in holdings by firms like Sequoia Financial Advisors and GAMMA Investing LLC.

Grifols, S.A. (NASDAQ:GRFS - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.50 and last traded at $10.50, with a volume of 3647605 shares changing hands. The stock had previously closed at $10.09.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Grifols from a "buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their target price on Grifols from $7.60 to $10.30 and gave the company a "neutral" rating in a research report on Tuesday, June 17th.

Grifols Trading Up 0.7%

The company has a debt-to-equity ratio of 1.13, a current ratio of 2.60 and a quick ratio of 0.97. The firm has a fifty day simple moving average of $9.14 and a 200-day simple moving average of $8.00. The firm has a market cap of $7.41 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 0.41 and a beta of 0.55.

Grifols Dividend Announcement

The firm also recently declared a -- dividend, which will be paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th will be given a dividend of $0.1404 per share. The ex-dividend date of this dividend is Tuesday, August 12th.

Institutional Trading of Grifols

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in shares of Grifols in the first quarter valued at $28,000. Tower Research Capital LLC TRC lifted its stake in shares of Grifols by 354.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,124 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 6,335 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Grifols in the 4th quarter valued at about $75,000. Ballentine Partners LLC purchased a new position in Grifols during the 1st quarter valued at about $77,000. Finally, Principal Street Partners LLC purchased a new position in shares of Grifols during the 4th quarter worth approximately $84,000.

About Grifols

Grifols, SA operates as a plasma therapeutic company in Spain, the United States, Canada, and internationally. The company provides immunoglobulin to treat immunodeficiencies; albumin used to restore circulatory volume and protein loss in pathophysiological conditions, such as liver cirrhosis, cardiocirculatory failure, trauma and severe burns; alpha-1 proteinase inhibitor, a plasma protein, used to treat a genetic disease known as alpha-1; factorVIII/von Willerbrand factor and factor IX, clotting factors for the treatment of hemophilia A and von Willebrand's disease, as well as hemophilia B; antithrombin III to treat hereditary antithrombin deficiency; Fostamatinib, a spleen tyrosine kinase inhibitor; combination of fibrinogen and enzyme thrombin that acts as a biological sealant to control surgical bleeding; and plasma exchange with albumin used to treat Alzheimer's disease.