Dr. Reddy’s Laboratories (NYSE:RDY) Shares Gap Down – Time to Sell?

Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.32, but opened at $14.90. Dr. Reddy’s Laboratories shares last traded at $14.87, with a volume of 96,325 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Barclays lowered their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Price Performance

The company has a market cap of $12.35 billion, a price-to-earnings ratio of 23.63 and a beta of 0.51. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average price is $14.87 and its 200 day moving average price is $15.55.

Institutional Trading of Dr. Reddy’s Laboratories

Several hedge funds have recently made changes to their positions in the company. Artemis Investment Management LLP lifted its stake in shares of Dr. Reddy’s Laboratories by 398.3% in the 4th quarter. Artemis Investment Management LLP now owns 295,530 shares of the company’s stock worth $4,666,000 after acquiring an additional 236,224 shares during the period. Boston Common Asset Management LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 505.2% in the 4th quarter. Boston Common Asset Management LLC now owns 18,065 shares of the company’s stock worth $285,000 after acquiring an additional 15,080 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Dr. Reddy’s Laboratories by 362.8% in the 4th quarter. Ritholtz Wealth Management now owns 80,595 shares of the company’s stock worth $1,273,000 after acquiring an additional 63,180 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 404.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 13,886 shares of the company’s stock worth $219,000 after acquiring an additional 11,131 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 394.9% in the 4th quarter. Sivia Capital Partners LLC now owns 30,498 shares of the company’s stock worth $482,000 after acquiring an additional 24,336 shares during the period. Institutional investors and hedge funds own 3.85% 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.