Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up – What’s Next?

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $15.57, but opened at $15.91. Dr. Reddy’s Laboratories shares last traded at $16.00, with a volume of 161,061 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RDY shares. Barclays lowered their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Finally, StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

The company’s 50 day moving average is $14.78 and its 200 day moving average is $15.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 25.53 and a beta of 0.53.

Institutional Trading of Dr. Reddy’s Laboratories

A number of institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Dr. Reddy’s Laboratories by 318.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after purchasing an additional 283,700 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Dr. Reddy’s Laboratories by 59.4% in the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock valued at $39,034,000 after purchasing an additional 183,146 shares during the period. Millennium Management LLC grew its position in shares of Dr. Reddy’s Laboratories by 61.4% in the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock valued at $25,333,000 after purchasing an additional 126,472 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 valued at $76,455,000 after purchasing an additional 114,294 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Dr. Reddy’s Laboratories by 219.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,481 shares of the company’s stock worth $12,353,000 after buying an additional 106,796 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.