Short Interest in Dr. Reddy’s Laboratories Limited (NYSE:RDY) Increases By 20.0%

Dr. Reddy’s Laboratories Limited (NYSE:RDY) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 751,000 shares, an increase of 20.0% from the March 31st total of 625,800 shares. Based on an average trading volume of 193,400 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDY. GAMMA Investing LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 4th quarter worth approximately $34,000. FSC Wealth Advisors LLC purchased a new position in Dr. Reddy’s Laboratories in the third quarter worth $40,000. CWM LLC boosted its position in Dr. Reddy’s Laboratories by 37.9% in the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock worth $151,000 after purchasing an additional 598 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Dr. Reddy’s Laboratories in the 1st quarter valued at $189,000. Finally, Aprio Wealth Management LLC purchased a new stake in shares of Dr. Reddy’s Laboratories during the 1st quarter valued at $212,000. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDY. Jefferies Financial Group cut Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. Barclays raised their price objective on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $80.00.

Dr. Reddy’s Laboratories Trading Down 1.3 %

NYSE RDY opened at $73.47 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $74.10 and a 200 day simple moving average of $70.59. Dr. Reddy’s Laboratories has a 12 month low of $53.12 and a 12 month high of $77.72. The firm has a market capitalization of $12.26 billion, a P/E ratio of 19.39, a PEG ratio of 1.86 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. The firm had revenue of $867.00 million during the quarter, compared to analyst estimates of $827.81 million. On average, analysts predict that Dr. Reddy’s Laboratories will post 3.96 EPS for the current fiscal year.

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.