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

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) are set to split on the morning of Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly issued shares will be issued to shareholders after the closing bell on Monday, November 4th.

Dr. Reddy’s Laboratories Stock Up 0.5 %

RDY opened at $74.27 on Friday. The stock has a market capitalization of $12.40 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. Dr. Reddy’s Laboratories has a one year low of $63.72 and a one year high of $84.46. The business’s 50-day simple moving average is $79.19 and its 200-day simple moving average is $76.61.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 43.2% during the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after buying an additional 137 shares during the period. Van ECK Associates Corp lifted its position in Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after acquiring an additional 322 shares during the period. GAMMA Investing LLC lifted its position in Dr. Reddy’s Laboratories by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after acquiring an additional 657 shares during the period. Wealthstream Advisors Inc. purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $203,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $204,000. 14.02% of the stock is currently owned by institutional investors and hedge funds.

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.