Dr. Reddy’s Laboratories (NYSE:RDY) Trading Down 5.5% – Should You Sell?

Dr. Reddy’s Laboratories Limited (NYSE:RDY) dropped 5.5% during mid-day trading on Thursday . The stock traded as low as $14.30 and last traded at $14.27. Approximately 266,113 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,180,042 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays decreased their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Finally, 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 Stock Down 5.7 %

The business’s fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $15.54. 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 company has a market cap of $11.87 billion, a PE ratio of 22.72 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 18.53% and a net margin of 17.81%. On average, analysts predict that Dr. Reddy’s Laboratories Limited will post 0.81 earnings per share for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of RDY. Farther Finance Advisors LLC lifted its position in shares of 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 acquiring an additional 137 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Dr. Reddy’s Laboratories by 6.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock valued at $377,000 after purchasing an additional 316 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 14.2% during the third quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock worth $243,000 after buying an additional 380 shares in the last quarter. Finally, Lifestyle Asset Management Inc. grew its stake in Dr. Reddy’s Laboratories by 3.2% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company’s stock valued at $1,088,000 after acquiring an additional 422 shares in the last quarter. Hedge funds and other institutional investors 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.