Dr. Reddy’s Laboratories (NYSE:RDY) Shares Scheduled to Split on Tuesday, November 5th

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) are set to split on the morning of Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, November 4th.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $78.08 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The stock has a market cap of $13.03 billion, a P/E ratio of 19.37, a PEG ratio of 1.73 and a beta of 0.55. The company has a 50-day moving average of $80.16 and a two-hundred day moving average of $76.49. Dr. Reddy’s Laboratories has a 12-month low of $63.72 and a 12-month high of $84.46.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The business had revenue of $919.80 million for the quarter, compared to analyst estimates of $861.68 million. Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. As a group, research analysts predict that Dr. Reddy’s Laboratories will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price objective on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently modified their holdings of RDY. Jane Street Group LLC increased its position in Dr. Reddy’s Laboratories by 2,197.8% during the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock worth $8,301,000 after purchasing an additional 108,243 shares during the last quarter. BNP Paribas Financial Markets increased its position in Dr. Reddy’s Laboratories by 46.9% during the first quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company’s stock worth $7,574,000 after purchasing an additional 32,958 shares during the last quarter. OLD Mission Capital LLC increased its position in Dr. Reddy’s Laboratories by 66.2% during the first quarter. OLD Mission Capital LLC now owns 47,537 shares of the company’s stock worth $3,487,000 after purchasing an additional 18,930 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Dr. Reddy’s Laboratories by 11.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 62,177 shares of the company’s stock worth $4,561,000 after purchasing an additional 6,322 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth approximately $2,633,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

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.