Is Grifols, S.A. (GRFS) a Sell? The Stock Formed Bearish Multiple Bottom Pattern

September 16, 2018 - By Mary Kidd

Grifols, S.A. (NASDAQ:GRFS) Logo

The stock of Grifols, S.A. (GRFS) shows a multiple bottoms pattern with $18.46 target or 8.00 % below today’s $20.07 share price. The 7 months chart pattern indicates high risk for the $16.98 billion company. It was reported on Sep, 16 by If the $18.46 price target is reached, the company will be worth $1.36B less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.50% or $0.1 during the last trading session, reaching $20.07. About 1.61 million shares traded or 51.37% up from the average. Grifols, S.A. (NASDAQ:GRFS) has declined 3.12% since September 16, 2017 and is downtrending. It has underperformed by 18.74% the S&P500.

Analysts await Grifols, S.A. (NASDAQ:GRFS) to report earnings on November, 1. They expect $0.31 EPS, up 6.90 % or $0.02 from last year’s $0.29 per share. GRFS’s profit will be $262.24 million for 16.19 P/E if the $0.31 EPS becomes a reality. After $0.34 actual EPS reported by Grifols, S.A. for the previous quarter, Wall Street now forecasts -8.82 % negative EPS growth.

Another recent and important Grifols, S.A. (NASDAQ:GRFS) news was published by which published an article titled: “Grifols: Just-approved medicine will only be manufactured in Clayton” on September 07, 2018.

Grifols, S.A., a specialty pharmaceutical company, develops, makes, and distributes biological medicines on plasma derived proteins in the United States, Canada, Spain, rest of the European Union, and internationally. The company has market cap of $16.98 billion. The firm specializes in providing infusion solutions, nutrition products, and medical devices for use in hospitals and clinics. It has a 33.51 P/E ratio. It operates through four divisions: Bioscience, Diagnostic, Hospital, and Raw Materials and Others.

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