Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Down – Time to Sell?

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped down before the market opened on Thursday . The stock had previously closed at $15.32, but opened at $14.90. Dr. Reddy’s Laboratories shares last traded at $14.87, with a volume of 96,325 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays decreased their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Stock Down 3.5 %

The company has a market cap of $12.35 billion, a PE ratio of 23.63 and a beta of 0.51. 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 firm’s fifty day simple moving average is $14.87 and its 200-day simple moving average is $15.55.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently modified their holdings of RDY. Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Dr. Reddy’s Laboratories in the third quarter valued at about $60,000. Van ECK Associates Corp lifted its holdings in shares of Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Dr. Reddy’s Laboratories by 369.9% in the fourth quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $107,000 after buying an additional 5,352 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in shares of Dr. Reddy’s Laboratories in the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 3.85% 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, as well as engages in the biologics business.