Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Down – Here’s Why

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $13.71, but opened at $13.41. Dr. Reddy’s Laboratories shares last traded at $13.44, with a volume of 87,686 shares trading hands.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Trading Down 1.9 %

The company’s 50-day moving average is $13.63 and its 200 day moving average is $14.67. 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 company has a market cap of $11.23 billion, a price-to-earnings ratio of 21.43 and a beta of 0.48.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC boosted its position in Dr. Reddy’s Laboratories by 7.2% during the third quarter. Natixis Advisors LLC now owns 10,937 shares of the company’s stock worth $869,000 after acquiring an additional 735 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Dr. Reddy’s Laboratories by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company’s stock worth $433,000 after acquiring an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Dr. Reddy’s Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $29,000 after purchasing an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc increased its holdings 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 purchasing an additional 1,600 shares during the last quarter. Finally, POM Investment Strategies LLC raised its position in 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 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.