Dr. Reddy’s Laboratories Stock Set to Split on Tuesday, November 5th (NYSE:RDY)

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares are going to split on Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly created shares will be payable to shareholders after the market closes on Monday, November 4th.

Dr. Reddy’s Laboratories Price Performance

Shares of Dr. Reddy’s Laboratories stock opened at $78.08 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. Dr. Reddy’s Laboratories has a fifty-two week low of $63.72 and a fifty-two week high of $84.46. The firm has a fifty day moving average price of $80.16 and a two-hundred day moving average price of $76.49. The company has a market cap of $13.03 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.73 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Saturday, July 27th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The company had revenue of $919.80 million during the quarter, compared to the consensus estimate of $861.68 million. Dr. Reddy’s Laboratories had a net margin of 19.28% and a return on equity of 20.32%. Analysts expect that Dr. Reddy’s Laboratories will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Barclays raised their price objective on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Dr. Reddy’s Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 144,445 shares of the company’s stock worth $10,050,000 after purchasing an additional 3,291 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Dr. Reddy’s Laboratories in the 1st quarter valued at about $594,000. First Trust Direct Indexing L.P. increased its position in Dr. Reddy’s Laboratories by 2.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after acquiring an additional 251 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Dr. Reddy’s Laboratories by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock valued at $1,065,000 after acquiring an additional 232 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Dr. Reddy’s Laboratories by 46.9% in the 1st quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company’s stock valued at $7,574,000 after acquiring an additional 32,958 shares in the last quarter. 14.02% of the stock is owned by institutional investors.

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.