Grifols (NASDAQ:GRFS) Sees Unusually-High Trading Volume - Here's Why

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 an uptick in trading volume on Tuesday . 1,680,103 shares were traded during 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.

Analyst Upgrades and Downgrades

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

Grifols Stock Up 0.7%

The firm's fifty day moving average price is $9.19 and its two-hundred day moving average price is $8.03. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 0.37 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.64 and a quick ratio of 0.97.

Grifols Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.1404 per share. The ex-dividend date is Tuesday, August 12th.

Hedge Funds Weigh In On Grifols

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Grifols during the fourth quarter valued at about $14,434,000. Sequoia Financial Advisors LLC raised its holdings in shares of Grifols by 14.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 26,230 shares of the biotechnology company's stock worth $186,000 after acquiring an additional 3,399 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Grifols by 25.0% in the 4th quarter. LPL Financial LLC now owns 75,398 shares of the biotechnology company's stock worth $561,000 after acquiring an additional 15,067 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Grifols in the 4th quarter worth about $75,000. Finally, GAMMA Investing LLC raised its holdings in shares of Grifols by 426.1% in the 1st quarter. GAMMA Investing LLC now owns 26,087 shares of the biotechnology company's stock worth $1,850,000 after acquiring an additional 21,128 shares during the last quarter.

Grifols Company Profile

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.