Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Down – Here’s Why

Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped down prior to trading on Tuesday . The stock had previously closed at $13.71, but opened at $13.41. Dr. Reddy’s Laboratories shares last traded at $13.44, with a volume of 87,686 shares changing hands.

Analyst Upgrades and Downgrades

RDY has been the subject of a number of analyst reports. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Stock 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 company has a market cap of $11.08 billion, a P/E ratio of 21.14 and a beta of 0.48. The stock’s fifty day moving average price is $13.55 and its two-hundred day moving average price is $14.64.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew 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 purchasing an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its stake in shares of Dr. Reddy’s Laboratories by 400.0% during the fourth 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. POM Investment Strategies LLC grew its stake in shares of Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after buying an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after buying an additional 2,093 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after acquiring an additional 2,230 shares in 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.