Dr. Reddy’s Laboratories (NYSE:RDY) Hits New 52-Week High at $82.89

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares reached a new 52-week high during trading on Monday . The company traded as high as $82.89 and last traded at $82.87, with a volume of 11546 shares trading hands. The stock had previously closed at $81.22.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RDY shares. Barclays raised their price target on Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com lowered Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th.

Dr. Reddy’s Laboratories Stock Up 1.1 %

The company has a market cap of $13.71 billion, a PE ratio of 20.15, a PEG ratio of 1.82 and a beta of 0.55. The stock’s 50 day moving average price is $74.02 and its 200-day moving average price is $73.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $850.00 million during the quarter, compared to analyst estimates of $825.20 million. Dr. Reddy’s Laboratories had a net margin of 19.97% and a return on equity of 21.32%. On average, analysts predict that Dr. Reddy’s Laboratories Limited will post 4.03 earnings per share for the current year.

Dr. Reddy’s Laboratories Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, January 1st will be given a dividend of $0.4069 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a yield of 0.5%. Dr. Reddy’s Laboratories’s payout ratio is 10.17%.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Dr. Reddy’s Laboratories by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,048,152 shares of the company’s stock valued at $70,090,000 after purchasing an additional 20,341 shares during the period. Schroder Investment Management Group grew its holdings in shares of Dr. Reddy’s Laboratories by 77.6% during the 4th quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock worth $18,554,000 after acquiring an additional 116,488 shares during the period. Fisher Asset Management LLC raised its position in shares of Dr. Reddy’s Laboratories by 126.5% in the 4th quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock worth $14,283,000 after acquiring an additional 114,630 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Dr. Reddy’s Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 144,445 shares of the company’s stock valued at $10,050,000 after purchasing an additional 3,291 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 47.5% in the 4th quarter. Panagora Asset Management Inc. now owns 119,794 shares of the company’s stock valued at $8,335,000 after purchasing an additional 38,602 shares during the period. 14.02% of the stock is currently owned by 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.