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

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares gapped up before the market opened on Monday . The stock had previously closed at $12.68, but opened at $13.20. Dr. Reddy’s Laboratories shares last traded at $13.19, with a volume of 99,105 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The stock has a market cap of $11.15 billion, a P/E ratio of 21.27 and a beta of 0.48. The company’s 50 day simple moving average is $13.78 and its 200 day simple moving average is $14.74.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, equities analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Several large investors have recently made changes to their positions in RDY. EverSource Wealth Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $29,000 after acquiring an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. POM Investment Strategies LLC increased its position in shares of Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after acquiring an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after acquiring an additional 2,093 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Dr. Reddy’s Laboratories by 447.8% during the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock worth $41,000 after acquiring an additional 2,230 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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.