Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up to $72.03

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $72.03, but opened at $73.60. Dr. Reddy’s Laboratories shares last traded at $74.28, with a volume of 13,691 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RDY. Barclays raised their price target on Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com downgraded Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th.

Dr. Reddy’s Laboratories Stock Performance

The firm has a market cap of $12.72 billion, a PE ratio of 18.91, a P/E/G ratio of 1.62 and a beta of 0.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.58 and a quick ratio of 1.92. The stock has a 50-day moving average price of $71.36 and a 200 day moving average price of $71.82.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The business had revenue of $850.00 million during the quarter, compared to the consensus estimate of $825.20 million. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. Research analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Dr. Reddy’s Laboratories in the fourth quarter valued at $34,000. CWM LLC boosted its holdings in Dr. Reddy’s Laboratories by 37.9% in the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock valued at $151,000 after acquiring an additional 598 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Dr. Reddy’s Laboratories in the first quarter valued at $189,000. Aprio Wealth Management LLC acquired a new position in Dr. Reddy’s Laboratories in the first quarter valued at $212,000. Finally, Trexquant Investment LP acquired a new position in Dr. Reddy’s Laboratories in the fourth quarter valued at $219,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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.