Dr. Reddy’s Laboratories (NYSE:RDY) Sets New 12-Month Low – What’s Next?

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $12.55 and last traded at $12.58, with a volume of 180337 shares traded. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

RDY has been the topic of a number of recent research reports. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

The company has a 50 day moving average of $14.05 and a 200 day moving average of $14.87. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 19.96 and a beta of 0.48. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 research analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its position in shares of Dr. Reddy’s Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after buying an additional 9,373,412 shares during the period. Van ECK Associates Corp raised its holdings in shares of Dr. Reddy’s Laboratories by 609.4% in the 4th quarter. Van ECK Associates Corp now owns 5,838 shares of the company’s stock worth $92,000 after purchasing an additional 5,015 shares during the period. World Investment Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter valued at about $3,459,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 400.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company’s stock worth $8,373,000 after purchasing an additional 427,573 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Dr. Reddy’s Laboratories by 328.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,760 shares of the company’s stock worth $201,000 after purchasing an additional 9,781 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Dr. Reddy’s Laboratories

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.