Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company 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 cut shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a report on Thursday, December 19th.
Get Our Latest Stock Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Price Performance
The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm's fifty day moving average is $13.19 and its two-hundred day moving average is $14.33. The company has a market cap of $11.16 billion, a P/E ratio of 21.28 and a beta of 0.51.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share 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%. As a group, analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dr. Reddy's Laboratories
Several institutional investors have recently added to or reduced their stakes in RDY. AIA Group Ltd raised its stake in Dr. Reddy's Laboratories by 441.7% during the fourth quarter. AIA Group Ltd now owns 145,150 shares of the company's stock valued at $2,292,000 after purchasing an additional 118,357 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Dr. Reddy's Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock worth $77,311,000 after acquiring an additional 3,911,404 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Dr. Reddy's Laboratories by 609.4% in the fourth quarter. Van ECK Associates Corp now owns 5,838 shares of the company's stock worth $92,000 after purchasing an additional 5,015 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Dr. Reddy's Laboratories by 400.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock worth $8,373,000 after acquiring an additional 427,573 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.
About Dr. Reddy's Laboratories
(
Get Free Report)
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.
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