Grifols (NASDAQ:GRFS) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Grifols (NASDAQ:GRFS) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on GRFS. Weiss Ratings lowered shares of Grifols from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Grifols from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Grifols has an average rating of “Reduce” and an average target price of $10.00.

Grifols Stock Up 1.4%

GRFS stock opened at $7.31 on Tuesday. The stock has a market cap of $4.98 billion, a P/E ratio of 38.47, a P/E/G ratio of 0.28 and a beta of 0.67. The company has a current ratio of 2.47, a quick ratio of 0.85 and a debt-to-equity ratio of 1.16. The stock’s fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $8.36. Grifols has a 1-year low of $6.96 and a 1-year high of $11.14.

Grifols Dividend Announcement

The business also recently announced a special dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.0945 per share. The ex-dividend date of this dividend is Thursday, July 2nd. Grifols’s payout ratio is presently 115.79%.

Institutional Investors Weigh In On Grifols

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in Grifols by 13.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 592,173 shares of the biotechnology company’s stock valued at $4,193,000 after acquiring an additional 72,037 shares in the last quarter. Versant Capital Management Inc lifted its stake in Grifols by 36.0% in the 2nd quarter. Versant Capital Management Inc now owns 6,958 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,842 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Grifols by 71.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 14,685 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 6,127 shares during the period. Royal Bank of Canada boosted its holdings in Grifols by 15.4% in the 1st quarter. Royal Bank of Canada now owns 785,703 shares of the biotechnology company’s stock valued at $6,301,000 after purchasing an additional 104,850 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of Grifols by 42.0% during the 1st quarter. Quantinno Capital Management LP now owns 352,798 shares of the biotechnology company’s stock valued at $2,829,000 after purchasing an additional 104,418 shares in 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.