Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up – Should You Buy?

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $15.12, but opened at $15.46. Dr. Reddy’s Laboratories shares last traded at $15.46, with a volume of 235,280 shares traded.

Analysts Set New Price Targets

Several research analysts have recently commented on RDY shares. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Barclays reduced their price target 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.

Dr. Reddy’s Laboratories Price Performance

The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 24.55 and a beta of 0.53. 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 company has a 50-day simple moving average of $14.80 and a two-hundred day simple moving average of $15.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories during the third quarter valued at $3,459,000. Frank Rimerman Advisors LLC acquired a new position in Dr. Reddy’s Laboratories during the 2nd quarter valued at about $2,633,000. Caprock Group LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth about $997,000. Natixis Advisors LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth approximately $777,000. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $76,455,000 after acquiring an additional 114,294 shares in the last quarter. Institutional investors own 3.85% 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, as well as engages in the biologics business.