Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up to $70.92

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $70.92, but opened at $73.40. Dr. Reddy’s Laboratories shares last traded at $74.09, with a volume of 42,916 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. StockNews.com upgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, Barclays lifted their price objective on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Dr. Reddy’s Laboratories Trading Up 0.7 %

The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The firm’s 50 day moving average is $74.19 and its 200 day moving average is $70.38.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The business had revenue of $867.00 million for the quarter, compared to analysts’ expectations of $827.81 million. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. Equities analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

Institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC increased its position in Dr. Reddy’s Laboratories by 10.1% during the first quarter. Lindbrook Capital LLC now owns 3,873 shares of the company’s stock worth $284,000 after buying an additional 354 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Dr. Reddy’s Laboratories by 2.4% during the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock worth $780,000 after buying an additional 251 shares in the last quarter. Artemis Investment Management LLP bought a new position in Dr. Reddy’s Laboratories during the first quarter worth about $594,000. Janiczek Wealth Management LLC lifted its stake in Dr. Reddy’s Laboratories by 39.2% during the first quarter. Janiczek Wealth Management LLC now owns 6,177 shares of the company’s stock worth $453,000 after purchasing an additional 1,740 shares during the period. Finally, DGS Capital Management LLC lifted its stake in Dr. Reddy’s Laboratories by 15.2% during the first quarter. DGS Capital Management LLC now owns 9,922 shares of the company’s stock worth $728,000 after purchasing an additional 1,306 shares during the period. Institutional investors and hedge funds own 14.02% of the company’s stock.

About Dr. Reddy’s Laboratories

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.