Dr. Reddy’s Laboratories (NYSE:RDY) Sets New 1-Year Low – What’s Next?

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

Analyst Upgrades and Downgrades

RDY has been the topic of a number of research analyst reports. The Goldman Sachs Group cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus 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 capitalization of $10.25 billion, a PE ratio of 15.94, a P/E/G 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.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its position 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 worth $29,000 after acquiring an additional 821 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Dr. Reddy’s Laboratories by 803.8% in the fourth 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 raised its stake in shares of Dr. Reddy’s Laboratories by 81.5% during the fourth quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock worth $45,000 after purchasing an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 94.8% during the third quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock worth $65,000 after purchasing an additional 2,236 shares during the period. Institutional investors and hedge funds 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.