782K shares changed hands by the end of trading on Tuesday. Trading volume was up 181.90% over the stocks average daily volume.
Short traders are more bearish lately as shown by the rise in short interest. The firm experienced a rise in short interest between September 29, 2017 and October 13, 2017 of 1.31%. Short shares increased from 2,779,962 to 2,816,422 over that timeframe. Days to cover increased from 6.0 to 12.0 and the percentage of shorted shares is 0.02% as of October 13.
These firms have modified their investment in RDY. As of the end of the quarter Hanson & Doremus Investment Management had sold a total of 125 shares trimming its stake by 0.9%. The value of the company’s investment in Dr. Reddy’s Laboratories Ltd decreased from $560,000 to $470,000 decreasing 16.1% for the reporting period. As of quarter end Aperio Group, LLC had acquired 18,459 shares growing its position 11.3%. The value of the investment in RDY went from $6,891,000 to $6,493,000 a change of $398,000 since the last quarter.
Cornerstone Advisors, Inc. trimmed its position by shedding 188 shares a decrease of 10.0% in the quarter. Cornerstone Advisors, Inc. owns 1,685 shares with a value of $60,000. The total value of its holdings decreased 24.1%. Simplex Trading, LLC added to its holdings by buying 6,303 shares an increase of 1,832.3% from 06/30/2017 to 09/30/2017. Simplex Trading, LLC now holds 6,647 shares worth $237,000. The value of the position overall is up by 1,592.9%.
In the market the company is trading up since yesterday’s close of $36.37. Dr. Reddy’s Laboratories Ltd declared a dividend which was paid on Thursday the 10th of August 2017. The dividend payment was $0.078 per share for the quarter which comes to $0.31 on an annualized basis. The dividend yield was $0.87. The ex-dividend date was Thursday the 13th of July 2017.
It is trading at $36.37 which is just over $35.92, the stock’s 50 day moving average and a tad under the 200 day moving average of $37.80. The 50 day moving average was up $0.44 and the 200 day average was down $-1.43.
Dr. Reddy’s Laboratories Ltd currently has a P/E ratio of 34.64 and market capitalization is 6.03B.
Dr. Reddy’s Laboratories Limited, launched on February 24, 1984, is a pharmaceutical company that is involved in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics). PSAI segment includes the Business’s business of manufacturing and marketing active pharmaceutical ingredients and intermediates (API) or bulk drugs. Proprietary Products segment focuses on the research, development and manufacture of differentiated formulations and new chemical entities (NCEs). These products fall within the dermatology and neurology therapeutic areas, and are marketed and sold through its subsidiary, Promius Pharma, LLC. Others include the operations of its subsidiary, Aurigene Discovery Technologies Limited, a discovery-stage biotechnology company developing therapies in the fields of oncology and inflammation..