Dr. Reddy’s Laboratories (NYSE:RDY) Hits New 1-Year Low – Here’s What Happened

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.22 and last traded at $13.20, with a volume of 115167 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

RDY has been the subject of several analyst reports. Barclays cut their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Performance

The firm has a market capitalization of $11.11 billion, a PE ratio of 21.20 and a beta of 0.50. 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 50-day moving average of $14.71 and a 200 day moving average of $15.26.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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%. Equities 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

A number of institutional investors have recently made changes to their positions in RDY. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 137 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter worth about $60,000. Van ECK Associates Corp increased its position in shares of Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 valued at $29,000 after buying an additional 1,507 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its position 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 worth $32,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

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, as well as engages in the biologics business.