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

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s stock is scheduled to split before the market opens on Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly issued shares will be distributed to shareholders after the market closes on Monday, November 4th.

Dr. Reddy’s Laboratories Trading Up 0.5 %

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

Analysts Set New Price Targets

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

Institutional Trading of Dr. Reddy’s Laboratories

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Dr. Reddy’s Laboratories by 2.3% in the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after buying an additional 180 shares during the last quarter. Augustine Asset Management Inc. raised its stake in Dr. Reddy’s Laboratories by 0.4% in the second quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock valued at $3,857,000 after buying an additional 181 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in Dr. Reddy’s Laboratories by 3.1% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after buying an additional 184 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Dr. Reddy’s Laboratories by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock worth $1,065,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 14.02% of the company’s stock.

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.