Dr. Reddy’s Laboratories (NYSE:RDY) Stock Price Down 5.5% – Here’s Why

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s stock price fell 5.5% on Thursday . The company traded as low as $14.30 and last traded at $14.27. 266,113 shares changed hands during trading, a decline of 88% from the average session volume of 2,180,042 shares. The stock had previously closed at $15.09.

Analyst Ratings Changes

Several research analysts recently commented 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. Barclays cut their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Trading Down 5.7 %

The stock has a 50 day moving average price of $14.87 and a 200-day moving average price of $15.54. The stock has a market capitalization of $11.87 billion, a PE ratio of 22.72 and a beta of 0.51. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data 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 17.81% and a return on equity of 18.53%. Sell-side analysts expect that Dr. Reddy’s Laboratories Limited will post 0.81 earnings per share for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

A number of large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Dr. Reddy’s Laboratories by 43.2% during the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Dr. Reddy’s Laboratories by 6.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock valued at $377,000 after acquiring an additional 316 shares during the last quarter. Van ECK Associates Corp grew its position in Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after acquiring an additional 322 shares in the last quarter. Aprio Wealth Management LLC increased its stake in Dr. Reddy’s Laboratories by 14.2% during the third quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock worth $243,000 after acquiring an additional 380 shares during the last quarter. Finally, Lifestyle Asset Management Inc. raised its position in Dr. Reddy’s Laboratories by 3.2% during the third quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company’s stock valued at $1,088,000 after purchasing an additional 422 shares during the period. 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.