Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Up – Should You Buy?

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) gapped up before the market opened on Monday . The stock had previously closed at $12.68, but opened at $13.20. Dr. Reddy’s Laboratories shares last traded at $13.19, with a volume of 99,105 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RDY shares. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Up 1.0 %

The stock has a market capitalization of $11.15 billion, a P/E ratio of 21.27 and a beta of 0.48. The firm’s fifty day moving average is $13.78 and its 200-day moving average is $14.74. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, equities research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of large investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its position in shares of Dr. Reddy’s Laboratories by 453.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after purchasing an additional 9,373,412 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Dr. Reddy’s Laboratories by 403.1% during the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock worth $158,489,000 after purchasing an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Dr. Reddy’s Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock worth $148,717,000 after purchasing an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd lifted its position in shares of Dr. Reddy’s Laboratories by 416.1% during the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock worth $88,590,000 after purchasing an additional 4,523,303 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dr. Reddy’s Laboratories by 405.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock worth $84,643,000 after purchasing an additional 4,301,212 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.