Dr. Reddy’s Laboratories Stock Set to Split on Tuesday, November 5th (NYSE:RDY)

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares are set to split before the market opens on Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, November 4th.

Dr. Reddy’s Laboratories Stock Down 2.0 %

Shares of NYSE:RDY opened at $78.08 on Thursday. Dr. Reddy’s Laboratories has a one year low of $63.72 and a one year high of $84.46. The company has a 50 day moving average of $80.16 and a 200-day moving average of $76.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.73 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Saturday, July 27th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. The business had revenue of $919.80 million for the quarter, compared to analyst estimates of $861.68 million. On average, sell-side analysts forecast that Dr. Reddy’s Laboratories will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price target on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC boosted its stake in Dr. Reddy’s Laboratories by 16.9% during the 3rd quarter. Ballentine Partners LLC now owns 15,452 shares of the company’s stock worth $1,228,000 after acquiring an additional 2,239 shares during the last quarter. Waldron Private Wealth LLC bought a new position in Dr. Reddy’s Laboratories during the 3rd quarter worth approximately $236,000. Signaturefd LLC boosted its stake in Dr. Reddy’s Laboratories by 3.8% during the 3rd quarter. Signaturefd LLC now owns 25,631 shares of the company’s stock worth $2,036,000 after acquiring an additional 927 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dr. Reddy’s Laboratories by 19.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 106,731 shares of the company’s stock worth $8,480,000 after acquiring an additional 17,471 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Dr. Reddy’s Laboratories by 64.8% during the 3rd quarter. Blue Trust Inc. now owns 12,447 shares of the company’s stock worth $948,000 after acquiring an additional 4,895 shares during the last quarter. Institutional investors own 14.02% 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.