Dr. Reddy’s Laboratories Limited (NYSE:RDY) Sees Significant Increase in Short Interest

Dr. Reddy’s Laboratories Limited (NYSE:RDY) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 751,000 shares, a growth of 20.0% from the March 31st total of 625,800 shares. Based on an average trading volume of 193,400 shares, the days-to-cover ratio is presently 3.9 days.

Dr. Reddy’s Laboratories Trading Up 0.6 %

RDY stock traded up $0.45 during trading on Wednesday, hitting $73.92. The company had a trading volume of 44,226 shares, compared to its average volume of 193,539. The firm has a 50-day moving average price of $74.10 and a 200-day moving average price of $70.59. Dr. Reddy’s Laboratories has a 12 month low of $53.12 and a 12 month high of $77.72. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.86 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. The firm had revenue of $867.00 million during the quarter, compared to analysts’ expectations of $827.81 million. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. As a group, analysts predict that Dr. Reddy’s Laboratories will post 3.96 earnings per share for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of RDY. SG Americas Securities LLC raised its position in shares of Dr. Reddy’s Laboratories by 20.7% during the 3rd quarter. SG Americas Securities LLC now owns 9,675 shares of the company’s stock valued at $647,000 after acquiring an additional 1,658 shares during the last quarter. Ballentine Partners LLC lifted its stake in Dr. Reddy’s Laboratories by 5.8% in the third quarter. Ballentine Partners LLC now owns 6,825 shares of the company’s stock valued at $456,000 after buying an additional 375 shares during the period. PDS Planning Inc lifted its stake in Dr. Reddy’s Laboratories by 6.8% in the third quarter. PDS Planning Inc now owns 4,930 shares of the company’s stock valued at $330,000 after buying an additional 312 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Dr. Reddy’s Laboratories by 15.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company’s stock worth $111,882,000 after buying an additional 218,605 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories during the 3rd quarter worth about $40,000. 14.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDY. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. Finally, Barclays lifted their price objective on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Dr. Reddy’s Laboratories presently has an average rating of “Hold” and a consensus target price of $80.00.

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.