Grifols (NASDAQ:GRFS) Sees Strong Trading Volume - Time to Buy?

Key Points

• Grifols' shares experienced a significant increase in trading volume, with approximately 1.68 million shares traded, marking a 76% rise from the previous session.
• Wall Street analysts have positively rated Grifols, with JP Morgan raising its target price from $7.60 to $10.30 and upgrading its rating to "neutral."
• Large investors have shown increased interest in Grifols, with several hedge funds significantly increasing their positions in the stock recently.

Shares of Grifols, S.A. (NASDAQ:GRFS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,680,103 shares traded hands during mid-day trading, an increase of 76% from the previous session's volume of 954,477 shares.The stock last traded at $9.95 and had previously closed at $10.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Grifols from a "buy" rating to a "strong-buy" rating in a report on Monday, July 7th. JPMorgan Chase & Co. increased their target price on Grifols from $7.60 to $10.30 and gave the stock a "neutral" rating in a research note on Tuesday, June 17th.

Grifols Trading Up 2.4%

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 company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 0.38 and a beta of 0.55. The business's 50-day moving average price is $8.99 and its two-hundred day moving average price is $7.94.

Hedge Funds Weigh In On Grifols

Several large investors have recently modified their holdings of GRFS. Versant Capital Management Inc purchased a new position in Grifols during the first quarter worth about $28,000. Tower Research Capital LLC TRC increased its position in shares of Grifols by 354.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,124 shares of the biotechnology company's stock valued at $60,000 after buying an additional 6,335 shares during the period. First Trust Advisors LP bought a new position in Grifols in the 4th quarter valued at $75,000. Ballentine Partners LLC bought a new stake in Grifols during the first quarter valued at $77,000. Finally, Principal Street Partners LLC purchased a new stake in shares of Grifols in the 4th quarter valued at about $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.

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