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

Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report)'s stock is scheduled to split on the morning of Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, November 4th.

Dr. Reddy's Laboratories Stock Down 0.7 %

NYSE RDY traded down $0.56 during trading on Thursday, reaching $77.52. 148,514 shares of the company's stock were exchanged, compared to its average volume of 211,438. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories has a fifty-two week low of $63.72 and a fifty-two week high of $84.46. The company's fifty day simple moving average is $80.16 and its 200-day simple moving average is $76.49. The firm has a market capitalization of $12.94 billion, a PE ratio of 19.24, a P/E/G ratio of 1.73 and a beta of 0.55.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.10). The company had revenue of $919.80 million during the quarter, compared to analysts' expectations of $861.68 million. Dr. Reddy's Laboratories had a return on equity of 20.32% and a net margin of 19.28%. Sell-side analysts predict that Dr. Reddy's Laboratories will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays boosted their price target on shares of Dr. Reddy's Laboratories from $81.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in Dr. Reddy's Laboratories by 3.4% in the second quarter. Renaissance Technologies LLC now owns 1,995,495 shares of the company's stock worth $152,037,000 after purchasing an additional 65,606 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Dr. Reddy's Laboratories by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company's stock worth $76,455,000 after buying an additional 114,294 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Dr. Reddy's Laboratories by 318.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company's stock worth $28,411,000 after acquiring an additional 283,700 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Dr. Reddy's Laboratories by 61.4% during the 2nd quarter. Millennium Management LLC now owns 332,502 shares of the company's stock valued at $25,333,000 after acquiring an additional 126,472 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Dr. Reddy's Laboratories by 37.2% in the 2nd quarter. Acadian Asset Management LLC now owns 269,131 shares of the company's stock valued at $20,500,000 after acquiring an additional 72,978 shares in the last quarter. Institutional investors and hedge funds own 14.02% 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.