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

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $15.32, but opened at $14.90. Dr. Reddy’s Laboratories shares last traded at $14.87, with a volume of 96,325 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note 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 Price Performance

The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 23.82 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92. The company’s fifty day moving average is $14.86 and its two-hundred day moving average is $15.55.

Institutional Trading of Dr. Reddy’s Laboratories

Several large investors have recently bought and sold shares of RDY. Lifestyle Asset Management Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 422.2% in the fourth quarter. Lifestyle Asset Management Inc. now owns 71,488 shares of the company’s stock valued at $1,129,000 after purchasing an additional 57,799 shares during the period. SG Americas Securities LLC purchased a new position in Dr. Reddy’s Laboratories in the 4th quarter valued at about $145,000. Simon Quick Advisors LLC acquired a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at about $224,000. Atomi Financial Group Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter worth about $162,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 328.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,760 shares of the company’s stock worth $201,000 after acquiring an additional 9,781 shares in the last quarter. Institutional investors and hedge funds 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.