Dr. Reddy’s Laboratories (NYSE:RDY) Reaches New 1-Year Low – Here’s Why

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $12.26 and last traded at $13.03, with a volume of 4320297 shares trading hands. The stock had previously closed at $12.43.

Analysts Set New Price Targets

Separately, Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Trading Up 4.8 %

The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $14.41. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 20.75 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (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%. On average, research analysts expect that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Dr. Reddy’s Laboratories by 3.1% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in Dr. Reddy’s Laboratories by 400.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. POM Investment Strategies LLC raised its position in Dr. Reddy’s Laboratories by 400.0% in the 4th 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 in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Dr. Reddy’s Laboratories by 461.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock valued at $40,000 after purchasing an additional 2,093 shares in the last quarter. Institutional investors and hedge funds 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.