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

Dr. Reddy’s Laboratories Ltd (NYSE:RDY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $12.84, but opened at $13.66. Dr. Reddy’s Laboratories shares last traded at $13.3650, with a volume of 754,102 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RDY shares. The Goldman Sachs Group cut Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday. Weiss Ratings cut Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.90.

Dr. Reddy’s Laboratories Trading Up 0.7%

The stock has a fifty day moving average price of $13.84 and a 200 day moving average price of $13.87. 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 stock has a market cap of $11.41 billion, a PE ratio of 17.75, a PEG ratio of 21.09 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The company had revenue of $969.81 million during the quarter, compared to analysts’ expectations of $963.84 million. Equities analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its holdings in Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the period. Russell Investments Group Ltd. boosted its holdings 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 acquiring an additional 2,749 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 1,294 shares during the period. Larson Financial Group LLC boosted its holdings 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 acquiring an additional 1,425 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 217.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock valued at $50,000 after acquiring an additional 2,444 shares during the period. Hedge funds and other 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.