Dr. Reddy’s Laboratories (NYSE:RDY) Sets New 1-Year Low – Time to Sell?

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $12.81 and last traded at $12.8650, with a volume of 1267119 shares trading hands. The stock had previously closed at $13.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Stock Down 1.8%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.38 and a current ratio of 1.88. The firm has a fifty day moving average price of $13.91 and a 200 day moving average price of $13.89. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 20.75 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $969.81 million during the quarter, compared to analysts’ expectations of $963.84 million. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%. As a group, sell-side analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several hedge funds have recently bought and sold shares of RDY. Morgan Stanley increased its stake in Dr. Reddy’s Laboratories by 41.2% in the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock valued at $125,322,000 after purchasing an additional 2,603,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Dr. Reddy’s Laboratories by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock valued at $182,921,000 after purchasing an additional 921,078 shares in the last quarter. Aikya Investment Management Ltd increased its stake in Dr. Reddy’s Laboratories by 9.3% in the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock valued at $103,033,000 after purchasing an additional 623,518 shares in the last quarter. Marshall Wace LLP increased its stake in Dr. Reddy’s Laboratories by 1,699.4% in the 4th quarter. Marshall Wace LLP now owns 516,256 shares of the company’s stock valued at $7,248,000 after purchasing an additional 487,565 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Dr. Reddy’s Laboratories by 51.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,168,562 shares of the company’s stock valued at $16,407,000 after purchasing an additional 398,537 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.