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

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) 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 distributed to shareholders after the closing bell on Monday, November 4th.

Dr. Reddy’s Laboratories Stock Down 1.5 %

Shares of Dr. Reddy’s Laboratories stock opened at $76.38 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. Dr. Reddy’s Laboratories has a 1 year low of $63.72 and a 1 year high of $84.46. The firm’s 50-day moving average is $79.98 and its two-hundred day moving average is $76.56. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.73 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. The business had revenue of $919.80 million for the quarter, compared to the consensus estimate of $861.68 million. As a group, research analysts expect that Dr. Reddy’s Laboratories will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Barclays increased their price target on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th.

Institutional Trading of Dr. Reddy’s Laboratories

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Dr. Reddy’s Laboratories by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after purchasing an additional 657 shares during the last quarter. Wealthstream Advisors Inc. purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $203,000. Legacy Capital Group California Inc. purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $204,000. Drive Wealth Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $206,000. Finally, CWM LLC raised its position in shares of Dr. Reddy’s Laboratories by 10.5% in the 2nd quarter. CWM LLC now owns 2,855 shares of the company’s stock valued at $218,000 after purchasing an additional 271 shares during the last quarter. 14.02% of the stock is owned by hedge funds and other 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, as well as engages in the biologics business.