Dr. Reddy’s Laboratories (NYSE:RDY) Reaches New 52-Week Low – Here’s What Happened

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.55 and last traded at $12.58, with a volume of 180337 shares changing hands. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Dr. Reddy’s Laboratories Trading Down 1.4 %

The business’s 50-day moving average price is $14.05 and its 200-day moving average price is $14.87. The firm has a market capitalization of $10.46 billion, a PE ratio of 19.96 and a beta of 0.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38.

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

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after purchasing an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its stake in Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares in the last quarter. POM Investment Strategies LLC grew its position in shares of Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock valued at $36,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock worth $41,000 after purchasing an additional 2,230 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.