Dr. Reddy’s Laboratories (NYSE:RDY) Hits New 52-Week Low – What’s Next?

Dr. Reddy’s Laboratories Ltd (NYSE:RDY)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.19 and last traded at $11.9350, with a volume of 5648 shares trading hands. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RDY shares. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. The Goldman Sachs Group lowered shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Trading Down 5.7%

The business’s fifty day moving average is $13.59 and its 200-day moving average is $13.68. The firm has a market cap of $9.88 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.80.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Tuesday, May 12th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%.The business had revenue of $852.55 million for the quarter, compared to analyst estimates of $886.58 million. Analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in shares of Dr. Reddy’s Laboratories by 67.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after purchasing an additional 821 shares during the last quarter. Russell Investments Group Ltd. raised its position in Dr. Reddy’s Laboratories by 803.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock worth $43,000 after purchasing an additional 2,749 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after buying an additional 1,294 shares during the period. Larson Financial Group LLC lifted its holdings in Dr. Reddy’s Laboratories by 81.5% during the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock worth $45,000 after buying an additional 1,425 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.