Dr. Reddy’s Laboratories Limited (NYSE:RDY – Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.55 and last traded at $12.58, with a volume of 180337 shares traded. The stock had previously closed at $12.71.
Analyst Upgrades and Downgrades
RDY has been the topic of a number of research analyst reports. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a 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 Stock Up 0.2 %
Dr. Reddy’s Laboratories (NYSE:RDY – Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dr. Reddy’s Laboratories
A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. raised its holdings in Dr. Reddy’s Laboratories by 203.4% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 26,744 shares of the company’s stock valued at $422,000 after acquiring an additional 17,930 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Dr. Reddy’s Laboratories by 829.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 57,350 shares of the company’s stock worth $906,000 after purchasing an additional 51,180 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dr. Reddy’s Laboratories by 100.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,511 shares of the company’s stock worth $261,000 after buying an additional 8,262 shares during the period. Vident Advisory LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 535.5% during the fourth quarter. Vident Advisory LLC now owns 151,331 shares of the company’s stock valued at $2,390,000 after purchasing an additional 127,518 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Dr. Reddy’s Laboratories in the 4th quarter worth approximately $1,007,000. Institutional investors and hedge funds own 3.85% 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.
Featured Stories
- Five stocks we like better than Dr. Reddy’s Laboratories
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- How to start investing in penny stocks
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Receive News & Ratings for Dr. Reddy's Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr. Reddy's Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.