Dr. Reddy’s Laboratories (NYSE:RDY) Reaches New 12-Month Low – Here’s Why

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) reached a new 52-week low during trading on Friday . The company traded as low as $12.50 and last traded at $12.82, with a volume of 7014 shares. The stock had previously closed at $13.24.

Analysts Set New Price Targets

Separately, Nomura cut 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 Stock Performance

The firm has a fifty day moving average of $13.33 and a 200-day moving average of $14.50. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 19.69 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. As a group, sell-side analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Dr. Reddy’s Laboratories by 453.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after purchasing an additional 9,373,412 shares in the last quarter. Royal Bank of Canada grew its holdings in Dr. Reddy’s Laboratories by 403.1% during the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock valued at $158,489,000 after buying an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC increased its position in Dr. Reddy’s Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock worth $148,717,000 after buying an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd raised its holdings in shares of Dr. Reddy’s Laboratories by 416.1% in the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock worth $88,590,000 after acquiring an additional 4,523,303 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dr. Reddy’s Laboratories by 405.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after acquiring an additional 4,301,212 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Dr. Reddy’s Laboratories

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.