Dr. Reddy’s Laboratories (NYSE:RDY) Reaches New 12-Month Low – Here’s What Happened

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $12.42 and last traded at $12.3950, with a volume of 419993 shares changing hands. The stock had previously closed at $13.14.

Analysts Set New Price Targets

A number of research firms have commented on RDY. The Goldman Sachs Group downgraded Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.90.

Dr. Reddy’s Laboratories Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.38 and a current ratio of 1.88. The company has a market cap of $10.25 billion, a PE ratio of 15.94, a PEG ratio of 20.55 and a beta of 0.27. The company’s 50-day simple moving average is $13.67 and its 200 day simple moving average is $13.82.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Dr. Reddy’s Laboratories by 26.3% during the first quarter. PNC Financial Services Group Inc. now owns 99,650 shares of the company’s stock worth $1,380,000 after purchasing an additional 20,729 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 33.9% during the 1st quarter. Parallel Advisors LLC now owns 88,173 shares of the company’s stock worth $1,221,000 after buying an additional 22,331 shares during the last quarter. KBC Group NV acquired a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth about $76,000. Quadrant Private Wealth Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at about $174,000. Finally, Assetmark Inc. increased its holdings in shares of Dr. Reddy’s Laboratories by 11.8% in the 1st quarter. Assetmark Inc. now owns 21,145 shares of the company’s stock valued at $293,000 after acquiring an additional 2,240 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.