Dr. Reddy’s Laboratories Ltd. (NYSE:RDY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $53.12, but opened at $53.69. Dr. Reddy’s Laboratories shares last traded at $54.48, with a volume of 116,381 shares.

A number of research firms recently weighed in on RDY. Goldman Sachs Group Inc. began coverage on Dr. Reddy’s Laboratories in a report on Monday, May 2nd. They issued a “neutral” rating for the company. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold”.

The company’s 50-day moving average price is $47.77 and its 200 day moving average price is $45.65. The stock has a market capitalization of $9.29 billion and a price-to-earnings ratio of 31.38.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data 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 analysts’ expectations of $2.41 billion. Equities analysts expect that Dr. Reddy’s Laboratories Ltd. will post $2.05 EPS 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 is Thursday, July 14th.

Other large investors recently modified their holdings of the company. OppenheimerFunds Inc. boosted its stake 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 raised 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 valued at $5,703,000 after buying an additional 75,400 shares in the last quarter. Dimensional Fund Advisors LP raised 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 valued at $30,336,000 after buying an additional 31,714 shares in the last quarter. Russell Frank Co raised 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 valued at $7,492,000 after buying an additional 12,758 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Dr. Reddy’s Laboratories by 99.8% in the fourth quarter. Principal Financial Group Inc. now owns 492,288 shares of the company’s stock valued at $22,788,000 after buying an additional 245,913 shares in 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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