Grifols (NASDAQ:GRFS) Sees Large Volume Increase - Here's What Happened

Key Points

• Trading volume surged 65% to approximately 1.12 million shares, while Grifols stock rose to $8.221 from a prior close of $8.00.
• Analyst sentiment remains cautious: three analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and an average price target of $10.00.
• Grifols recently paid a special dividend of $0.0945 per share, while several institutional investors—including Royal Bank of Canada, Goldman Sachs and Sei Investments—expanded their positions.

Shares of Grifols, S.A. (NASDAQ:GRFS - Get Free Report) saw strong trading volume on Wednesday . Approximately 1,121,503 shares were traded during trading, an increase of 65% from the previous session's volume of 679,574 shares.The stock last traded at $8.2210 and had previously closed at $8.00.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GRFS shares. Weiss Ratings downgraded shares of Grifols from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Grifols from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Zacks Research raised Grifols from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $10.00.

Grifols Price Performance

The stock has a market capitalization of $5.55 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. The stock's 50 day moving average price is $7.51 and its 200-day moving average price is $8.19.

Grifols Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, July 2nd were issued a $0.0945 dividend. The ex-dividend date was Thursday, July 2nd. Grifols's payout ratio is presently 121.05%.

Institutional Investors Weigh In On Grifols

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Grifols by 21.7% in the first quarter. Royal Bank of Canada now owns 486,824 shares of the biotechnology company's stock worth $3,461,000 after acquiring an additional 86,768 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Grifols during the first quarter worth $184,000. Goldman Sachs Group Inc. boosted its holdings in Grifols by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,212,032 shares of the biotechnology company's stock worth $29,948,000 after buying an additional 80,507 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Grifols by 127.4% in the second quarter. EverSource Wealth Advisors LLC now owns 8,219 shares of the biotechnology company's stock worth $74,000 after acquiring an additional 4,604 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Grifols by 11.6% in the second quarter. Sei Investments Co. now owns 2,081,535 shares of the biotechnology company's stock worth $18,817,000 after acquiring an additional 216,793 shares during the last quarter.

About Grifols

Grifols, Inc NASDAQ: GRFS is a global healthcare company specializing in the development, manufacture and marketing of plasma-derived medicines, diagnostic systems and hospital supplies. With a core focus on immunotherapy and transfusion medicine, the company harnesses human plasma proteins to create therapies that treat a wide range of bleeding disorders, immunodeficiencies and neurological conditions. Grifols also supplies reagents and diagnostic instruments for transfusion centers and clinical laboratories, alongside intravenous solutions and medical devices for hospital use.

The company operates three main business units.

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