Dr. Reddy’s Laboratories Ltd. (RDY) Shares Gap Down to $46.04
Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) gapped down before the market opened on Friday . The stock had previously closed at $45.48, but opened at $46.04. Dr. Reddy’s Laboratories shares last traded at $46.97, with a volume of 142,027 shares traded.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Dr. Reddy’s Laboratories from a “buy” rating to a “strong sell” rating in a research note on Thursday, July 28th. HSBC lowered Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research note on Wednesday, July 27th. Jefferies Group lowered Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and reduced their target price for the company from $45.00 to $41.90 in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG lowered Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 26th. Five analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $51.45.
The stock’s 50 day moving average price is $46.65 and its 200-day moving average price is $46.49. The company has a market cap of $7.77 billion and a PE ratio of 35.86.
Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly 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 analyst estimates of $557 million. On average, equities research analysts forecast that Dr. Reddy’s Laboratories Ltd. will post $1.33 earnings per share for the current year.
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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