Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) gapped down prior to trading on Thursday . The stock had previously closed at $52.08, but opened at $52.36. Dr. Reddy’s Laboratories shares last traded at $53.00, with a volume of 189,444 shares changing hands.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Goldman Sachs Group Inc. assumed coverage on Dr. Reddy’s Laboratories in a research note on Monday, May 2nd. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold”.

The stock has a 50-day moving average of $47.22 and a 200-day moving average of $45.52. The stock has a market capitalization of $9.03 billion and a price-to-earnings ratio of 30.54.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Thursday, May 12th. The company reported $0.07 EPS for the quarter. The company had revenue of $567 billion for the quarter, compared to the consensus estimate of $2.41 billion. On average, analysts forecast that Dr. Reddy’s Laboratories Ltd. will post $2.05 earnings per share for the current fiscal year.

The business also recently disclosed an annual dividend, which will be paid on Monday, July 18th. Investors of record on Monday, July 18th will be paid a dividend of $0.277 per share. The ex-dividend date of this dividend is Thursday, July 14th.

Other hedge funds and institutional investors recently modified their holdings of the company. OppenheimerFunds Inc. increased its position in shares of Dr. Reddy’s Laboratories by 10.5% in the fourth quarter. OppenheimerFunds Inc. now owns 37,908 shares of the company’s stock worth $1,755,000 after buying an additional 3,600 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Dr. Reddy’s Laboratories by 3.2% in the fourth quarter. Advisors Asset Management Inc. now owns 43,693 shares of the company’s stock worth $2,023,000 after buying an additional 1,341 shares during the last quarter. GAM Holding AG increased its position in shares of Dr. Reddy’s Laboratories by 157.7% in the fourth quarter. GAM Holding AG now owns 123,200 shares of the company’s stock worth $5,703,000 after buying an additional 75,400 shares during the last quarter. Russell Frank Co increased its position in shares of Dr. Reddy’s Laboratories by 8.6% in the fourth quarter. Russell Frank Co now owns 161,832 shares of the company’s stock worth $7,492,000 after buying an additional 12,758 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Dr. Reddy’s Laboratories by 15.2% in the fourth quarter. Sei Investments Co. now owns 236,110 shares of the company’s stock worth $10,930,000 after buying an additional 31,144 shares during the last quarter.

Dr. Reddy’s Laboratories Limited is an integrated global pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter finished pharmaceutical products, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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