Dr. Reddy’s Laboratories (NYSE:RDY) Hits New 12-Month High at $82.89

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

Analyst Ratings Changes

Several equities analysts recently weighed in on RDY shares. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th. Barclays lifted their price objective on Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th.

Dr. Reddy’s Laboratories Stock Up 1.1 %

The firm has a market cap of $13.71 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.82 and a beta of 0.55. The firm’s 50 day moving average is $74.02 and its two-hundred day moving average is $73.29. The company has a current ratio of 2.58, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced 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. Dr. Reddy’s Laboratories had a net margin of 19.97% and a return on equity of 21.32%. The company had revenue of $850.00 million during the quarter, compared to analyst estimates of $825.20 million. As a group, research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 4.03 EPS for the current fiscal year.

Dr. Reddy’s Laboratories Cuts Dividend

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

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Dr. Reddy’s Laboratories during the 4th quarter worth approximately $34,000. CWM LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 37.9% during the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock worth $151,000 after acquiring an additional 598 shares during the period. Contravisory Investment Management Inc. bought a new stake in Dr. Reddy’s Laboratories in the 1st quarter valued at $189,000. Legacy Capital Group California Inc. acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter worth $204,000. Finally, Aprio Wealth Management LLC acquired a new position in Dr. Reddy’s Laboratories in the 1st quarter worth $212,000. 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.