Shares of 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 traded.

RDY has been the topic of several recent research reports. Zacks Investment Research downgraded Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Goldman Sachs Group Inc. initiated coverage on Dr. Reddy’s Laboratories in a research note on Monday, May 2nd. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold”.

The company’s 50 day moving average is $47.48 and its 200 day moving average is $45.58. The firm has a market cap of $9.16 billion and a price-to-earnings ratio of 30.95.

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

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

Several hedge funds recently bought and sold shares of RDY. Sei Investments Co. increased its stake in Dr. Reddy’s Laboratories by 15.2% in the fourth quarter. Sei Investments Co. now owns 236,110 shares of the company’s stock valued at $10,930,000 after buying an additional 31,144 shares in the last quarter. 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 period. 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 period. Dimensional Fund Advisors LP increased its position in shares of Dr. Reddy’s Laboratories by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 655,355 shares of the company’s stock worth $30,336,000 after buying an additional 31,714 shares during the period. Finally, 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 period.

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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