Dr. Reddy’s Laboratories Stock Scheduled to Split on Tuesday, November 5th (NYSE:RDY)

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) are scheduled to split before the market opens on Tuesday, November 5th. The 5-1 split was announced on Thursday, September 12th. The newly created shares will be distributed to shareholders after the market closes on Monday, November 4th.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $73.85 on Friday. The company has a 50 day simple moving average of $79.53 and a two-hundred day simple moving average of $76.61. Dr. Reddy’s Laboratories has a fifty-two week low of $63.72 and a fifty-two week high of $84.46. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 43.2% during 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 in the last quarter. QRG Capital Management Inc. grew its stake in shares of Dr. Reddy’s Laboratories by 2.3% in the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock worth $603,000 after acquiring an additional 180 shares during the period. Augustine Asset Management Inc. raised its holdings 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 valued at $3,857,000 after purchasing an additional 181 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its holdings in Dr. Reddy’s Laboratories by 3.1% in the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after purchasing an additional 184 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Dr. Reddy’s Laboratories by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock worth $1,065,000 after purchasing an additional 232 shares during the period. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

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.