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

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

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $73.85 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. The stock has a 50-day simple moving average of $79.53 and a two-hundred day simple moving average of $76.61. The firm has a market capitalization of $12.33 billion, a PE ratio of 18.46, a P/E/G ratio of 1.73 and a beta of 0.55. Dr. Reddy’s Laboratories has a 52-week low of $63.72 and a 52-week high of $84.46.

Analysts Set New Price Targets

Separately, Barclays boosted 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 Investors Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in Dr. Reddy’s Laboratories by 2,197.8% during the 1st quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock valued at $8,301,000 after purchasing an additional 108,243 shares during the period. BNP Paribas Financial Markets lifted its stake in Dr. Reddy’s Laboratories by 46.9% in the 1st quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company’s stock worth $7,574,000 after purchasing an additional 32,958 shares in the last quarter. OLD Mission Capital LLC lifted its stake in Dr. Reddy’s Laboratories by 66.2% in the 1st quarter. OLD Mission Capital LLC now owns 47,537 shares of the company’s stock worth $3,487,000 after purchasing an additional 18,930 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Dr. Reddy’s Laboratories by 11.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 62,177 shares of the company’s stock valued at $4,561,000 after purchasing an additional 6,322 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories during the second quarter valued at about $2,633,000. Hedge funds and other institutional investors own 14.02% 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.