Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up to $70.92

Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped up before the market opened on Thursday . The stock had previously closed at $70.92, but opened at $73.40. Dr. Reddy’s Laboratories shares last traded at $74.09, with a volume of 42,916 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. StockNews.com upgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, Barclays boosted their price objective on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. The firm has a 50-day moving average of $74.19 and a 200-day moving average of $70.38. The firm has a market capitalization of $12.44 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. The company had revenue of $867.00 million during the quarter, compared to analyst estimates of $827.81 million. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. On average, equities research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 20.7% during the third quarter. SG Americas Securities LLC now owns 9,675 shares of the company’s stock valued at $647,000 after acquiring an additional 1,658 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Dr. Reddy’s Laboratories by 5.8% in the 3rd quarter. Ballentine Partners LLC now owns 6,825 shares of the company’s stock worth $456,000 after buying an additional 375 shares during the last quarter. PDS Planning Inc increased its position in Dr. Reddy’s Laboratories by 6.8% during the 3rd quarter. PDS Planning Inc now owns 4,930 shares of the company’s stock valued at $330,000 after buying an additional 312 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Dr. Reddy’s Laboratories by 15.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company’s stock valued at $111,882,000 after buying an additional 218,605 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in Dr. Reddy’s Laboratories in the third quarter worth $40,000. Institutional investors 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.