Dr. Reddy’s Laboratories (NYSE:RDY) Hits New 52-Week Low – Should You Sell?

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $13.22 and last traded at $13.20, with a volume of 115167 shares changing hands. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

RDY has been the subject of a number of research reports. Barclays lowered their price target on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. StockNews.com downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th.

Dr. Reddy’s Laboratories Stock Performance

The firm has a market capitalization of $11.13 billion, a P/E ratio of 21.23 and a beta of 0.50. 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’s 50 day moving average is $14.65 and its two-hundred day moving average is $15.22.

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

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in Dr. Reddy’s Laboratories by 453.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after purchasing an additional 9,373,412 shares during the period. Royal Bank of Canada boosted its position in shares of Dr. Reddy’s Laboratories by 403.1% during the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock worth $158,489,000 after purchasing an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 382.9% in the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock valued at $148,717,000 after buying an additional 7,467,979 shares during the period. Aikya Investment Management Ltd increased its position in shares of Dr. Reddy’s Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock valued at $88,590,000 after buying an additional 4,523,303 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Dr. Reddy’s Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after buying an additional 4,301,212 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.