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

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares gapped up before the market opened on Thursday . The stock had previously closed at $14.75, but opened at $15.34. Dr. Reddy’s Laboratories shares last traded at $15.53, with a volume of 548,080 shares traded.

Analyst Ratings Changes

A number of analysts have commented on RDY shares. HSBC raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.44 to $16.90 in a research report on Thursday. Hsbc Global Res raised Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $16.95.

Dr. Reddy’s Laboratories Stock Up 0.1%

The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 24.75 and a beta of 0.33. The business’s 50-day moving average is $13.86 and its 200-day moving average is $14.04. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in shares of Dr. Reddy’s Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $29,000 after buying an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc raised its position 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 worth $32,000 after acquiring an additional 1,600 shares during the period. Costello Asset Management INC acquired a new position in Dr. Reddy’s Laboratories during the first quarter worth $26,000. POM Investment Strategies LLC raised its position in Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after acquiring an additional 1,820 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Dr. Reddy’s Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after acquiring an additional 2,093 shares during the period. Institutional investors and hedge funds 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.