Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Down – Here’s What Happened

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.71, but opened at $13.41. Dr. Reddy’s Laboratories shares last traded at $13.44, with a volume of 87,686 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RDY. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

The company has a market capitalization of $11.23 billion, a PE ratio of 21.43 and a beta of 0.48. The stock’s 50-day moving average is $13.63 and its two-hundred day moving average is $14.67. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. On average, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Large investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in shares of Dr. Reddy’s Laboratories by 7.2% in the third quarter. Natixis Advisors LLC now owns 10,937 shares of the company’s stock valued at $869,000 after purchasing an additional 735 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Dr. Reddy’s Laboratories by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company’s stock worth $433,000 after buying an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after purchasing an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock valued at $32,000 after buying an additional 1,600 shares during the period. Finally, POM Investment Strategies LLC raised its stake in Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after buying an additional 1,820 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Company Profile

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.