Dr. Reddy's Laboratories Limited (NYSE:RDY) Short Interest Up 20.0% in April

Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report) saw a significant growth in short interest in the month of 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 daily volume of 193,400 shares, the short-interest ratio is presently 3.9 days.

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE RDY traded up $0.55 during trading hours on Wednesday, hitting $74.02. 116,680 shares of the company's stock were exchanged, compared to its average volume of 194,495. Dr. Reddy's Laboratories has a 1-year low of $53.12 and a 1-year high of $77.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.86 and a beta of 0.58. The company's 50-day moving average price is $74.10 and its 200-day moving average price is $70.59.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Dr. Reddy's Laboratories will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy's Laboratories

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Dr. Reddy's Laboratories by 46.9% in the 1st quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company's stock valued at $7,574,000 after acquiring an additional 32,958 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Dr. Reddy's Laboratories by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company's stock valued at $1,065,000 after acquiring an additional 232 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Dr. Reddy's Laboratories by 10.1% in the 1st quarter. Lindbrook Capital LLC now owns 3,873 shares of the company's stock valued at $284,000 after acquiring an additional 354 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Dr. Reddy's Laboratories by 2.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company's stock valued at $780,000 after acquiring an additional 251 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Dr. Reddy's Laboratories in the 1st quarter valued at approximately $594,000. Institutional investors and hedge funds own 14.02% of the company's stock.

Wall Street Analyst Weigh In

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

Dr. Reddy's Laboratories Company Profile

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.