Dr. Reddy’s Laboratories (NYSE:RDY) Stock Price Down 5.5% – Here’s What Happened

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price traded down 5.5% during mid-day trading on Thursday . The company traded as low as $14.30 and last traded at $14.27. 266,113 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,180,042 shares. The stock had previously closed at $15.09.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RDY. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays cut their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th.

Dr. Reddy’s Laboratories Trading Down 1.0 %

The business has a 50 day moving average of $14.86 and a two-hundred day moving average of $15.52. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 22.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 18.53% and a net margin of 17.81%. Equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its holdings in shares of Dr. Reddy’s Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Dr. Reddy’s Laboratories by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after acquiring an additional 114,294 shares in the last quarter. State Street Corp increased its position in shares of Dr. Reddy’s Laboratories by 1.9% during the third quarter. State Street Corp now owns 909,905 shares of the company’s stock valued at $72,292,000 after acquiring an additional 16,641 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Dr. Reddy’s Laboratories by 59.4% during the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock worth $39,034,000 after acquiring an additional 183,146 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Dr. Reddy’s Laboratories by 30.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 409,440 shares of the company’s stock valued at $32,530,000 after purchasing an additional 96,339 shares during the period. Institutional investors and hedge funds own 3.85% 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, as well as engages in the biologics business.