Dr. Reddy’s Laboratories (NYSE:RDY) Shares Down 5.5% – What’s Next?

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDYGet Free Report) traded down 5.5% on Thursday . The stock traded as low as $14.30 and last traded at $14.27. 266,113 shares traded hands during trading, a decline of 88% from the average session volume of 2,180,042 shares. The stock had previously closed at $15.09.

Wall Street Analyst Weigh In

RDY has been the topic of a number of research reports. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th. Barclays cut their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

View Our Latest Research Report on RDY

Dr. Reddy’s Laboratories Stock Performance

The company has a 50-day moving average price of $14.86 and a two-hundred day moving average price of $15.52. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.70 billion, a P/E ratio of 22.39 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDYGet Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.81% and a return on equity of 18.53%. Equities analysts expect that Dr. Reddy’s Laboratories Limited will post 0.81 earnings per share for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after acquiring an additional 137 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,775 shares of the company’s stock worth $44,000 after purchasing an additional 2,220 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Dr. Reddy’s Laboratories during the third quarter worth about $60,000. Van ECK Associates Corp boosted its holdings in shares of Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after purchasing an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Dr. Reddy’s Laboratories by 369.9% during the 4th quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $107,000 after purchasing an additional 5,352 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

(Get Free Report)

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.

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