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

Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped up prior to trading on Monday . The stock had previously closed at $12.68, but opened at $13.20. Dr. Reddy’s Laboratories shares last traded at $13.19, with a volume of 99,105 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of 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 report on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

The company’s 50-day simple moving average is $13.87 and its 200-day simple moving average is $14.79. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 21.03 and a beta of 0.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the last quarter. POM Investment Strategies LLC lifted its stake 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 purchasing an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 valued at $40,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Dr. Reddy’s Laboratories by 447.8% in the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after buying an additional 2,230 shares during the period. 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.