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

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped up before the market opened 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 Upgrades and Downgrades

Several research firms have commented on RDY. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Barclays raised their price target on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group lowered 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 assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Stock Up 4.4 %

The firm has a market capitalization of $12.35 billion, a PE ratio of 19.45, a P/E/G ratio of 1.78 and a beta of 0.58. The firm’s 50 day moving average price is $74.21 and its two-hundred day moving average price is $70.35. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The company had revenue of $867.00 million for 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%. As a group, research analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. lifted its stake in 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 acquiring an additional 251 shares during the last quarter. Artemis Investment Management LLP bought a new position in Dr. Reddy’s Laboratories during the first quarter worth $594,000. Janiczek Wealth Management LLC increased its holdings in Dr. Reddy’s Laboratories by 39.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 6,177 shares of the company’s stock valued at $453,000 after buying an additional 1,740 shares during the period. DGS Capital Management LLC increased its holdings in Dr. Reddy’s Laboratories by 15.2% in the 1st quarter. DGS Capital Management LLC now owns 9,922 shares of the company’s stock valued at $728,000 after buying an additional 1,306 shares during the period. Finally, Ballentine Partners LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 24.9% in the 1st quarter. Ballentine Partners LLC now owns 13,391 shares of the company’s stock worth $982,000 after purchasing an additional 2,666 shares during the last quarter. 14.02% of the stock is owned by hedge funds and other institutional investors.

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.