Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up to $70.92

Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped up prior to trading on Thursday . The stock had previously closed at $70.92, but opened at $73.40. Dr. Reddy’s Laboratories shares last traded at $74.09, with a volume of 42,916 shares.

Analyst Ratings Changes

RDY has been the subject of a number of research analyst reports. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Barclays boosted their target price on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Stock Performance

The firm’s 50-day moving average price is $74.21 and its 200 day moving average price is $70.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.78 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $867.00 million during the quarter, compared to analysts’ expectations of $827.81 million. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. On average, sell-side analysts anticipate that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its holdings in shares of Dr. Reddy’s Laboratories by 2.4% in the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after buying an additional 251 shares during the period. Artemis Investment Management LLP acquired a new position in Dr. Reddy’s Laboratories during the first quarter worth $594,000. Janiczek Wealth Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 39.2% during the first quarter. Janiczek Wealth Management LLC now owns 6,177 shares of the company’s stock worth $453,000 after purchasing an additional 1,740 shares during the last quarter. DGS Capital Management LLC increased its position in shares of Dr. Reddy’s Laboratories by 15.2% in the first quarter. DGS Capital Management LLC now owns 9,922 shares of the company’s stock valued at $728,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Dr. Reddy’s Laboratories by 24.9% in the first quarter. Ballentine Partners LLC now owns 13,391 shares of the company’s stock valued at $982,000 after acquiring an additional 2,666 shares during the last quarter. Institutional investors and hedge funds own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.