Dr. Reddy’s Laboratories (NYSE:RDY) Reaches New 52-Week High – Here’s What Happened

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) reached a new 52-week high on Friday . The stock traded as high as $15.49 and last traded at $15.5580, with a volume of 131211 shares changing hands. The stock had previously closed at $15.25.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RDY shares. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Stock Performance

The company’s 50-day simple moving average is $13.45 and its 200-day simple moving average is $13.72. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.02 and a beta of 0.27. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%.The business had revenue of $852.55 million for the quarter, compared to analyst estimates of $886.58 million. On average, analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its position in shares of Dr. Reddy’s Laboratories by 67.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Russell Investments Group Ltd. increased its position in Dr. Reddy’s Laboratories by 803.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after purchasing an additional 2,749 shares during the period. Larson Financial Group LLC increased its position in Dr. Reddy’s Laboratories by 81.5% during the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after purchasing an additional 1,425 shares during the period. EverSource Wealth Advisors LLC increased its position in Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Dr. Reddy’s Laboratories during the 4th quarter worth approximately $66,000. Institutional investors own 3.85% of the company’s stock.

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.