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

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $15.57, but opened at $15.91. Dr. Reddy’s Laboratories shares last traded at $16.00, with a volume of 161,061 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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. Barclays reduced their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. The business’s 50-day simple moving average is $14.78 and its two-hundred day simple moving average is $15.43. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 25.53 and a beta of 0.53.

Institutional Trading of Dr. Reddy’s Laboratories

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Dr. Reddy’s Laboratories by 43.2% in 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 during the period. Augustine Asset Management Inc. increased its position in shares of Dr. Reddy’s Laboratories by 0.4% during the second quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock worth $3,857,000 after acquiring an additional 181 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Dr. Reddy’s Laboratories by 6.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock valued at $377,000 after buying an additional 316 shares during the last quarter. Van ECK Associates Corp raised its stake in Dr. Reddy’s Laboratories by 64.3% during 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 during the period. Finally, Aprio Wealth Management LLC boosted its stake in Dr. Reddy’s Laboratories by 14.2% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock valued at $243,000 after purchasing an additional 380 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

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.