Dr. Reddy’s Laboratories Ltd. (NYSE:RDY)’s share price traded down 17.6% during trading on Tuesday . The company traded as low as $42.65 and last traded at $42.93, with a volume of 2,536,544 shares. The stock had previously closed at $52.10.

A number of equities analysts have commented on the company. Credit Suisse Group AG reissued an “underweight” rating on shares of Dr. Reddy’s Laboratories in a research note on Tuesday. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. began coverage on Dr. Reddy’s Laboratories in a research note on Monday, May 2nd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Dr. Reddy’s Laboratories has an average rating of “Hold” and a consensus price target of $61.00.

The company has a market capitalization of $7.53 billion and a price-to-earnings ratio of 25.32. The company’s 50 day moving average price is $49.83 and its 200-day moving average price is $46.22.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Tuesday, July 26th. The company reported $0.00 EPS for the quarter. The firm earned $479 million during the quarter, compared to the consensus estimate of $557 million. Analysts expect that Dr. Reddy’s Laboratories Ltd. will post $2.06 EPS for the current fiscal year.

The company also recently announced an annual dividend, which was paid on Monday, July 18th. Investors of record on Monday, July 18th were given a $0.277 dividend. The ex-dividend date of this dividend was Thursday, July 14th.

A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake 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. Principal Financial Group Inc. raised its stake 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 worth $22,788,000 after buying an additional 245,913 shares during the last quarter. Morgan Stanley raised its stake in shares of Dr. Reddy’s Laboratories by 366.0% in the fourth quarter. Morgan Stanley now owns 308,997 shares of the company’s stock worth $14,303,000 after buying an additional 242,689 shares during the last quarter. Finally, OppenheimerFunds Inc. raised 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 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 (OTC) 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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