Dr. Reddy’s Laboratories Ltd (NYSE:RDY) Trading Down – Short Interest Up 7.68%


Traders are feeling more bearish on the company recently if you put credence in the motion in short interest. The firm experienced a rise in short interest between September 15, 2017 and September 29, 2017 of 7.68%. Short interest grew 198,159 over that period. With short interest at 2,779,962 and short average daily volume at 445,447, days to cover is 6.0 and the percentage of shorted shares is 0.02% as of September 29.

Here are a few substantial investment firms who have updated their positions. Acadian Asset Management LLC divested its holdings by shedding 32,649 shares a decrease of 26.1%. Acadian Asset Management LLC owns 92,297 shares valued at $3,293,000. The total value of its holdings decreased 37.5%. Hexavest Inc. added to its ownership by buying 56,522 shares an increase of 322.8% from 06/30/2017 to 09/30/2017. Hexavest Inc. controls 74,032 shares with a value of $2,641,000. The value of the position overall is up by 257.9%.

As of quarter end Creative Planning had bought a total of 4 shares growing its position 0.0%. The value of the company’s investment in Dr. Reddy’s Laboratories Ltd went from $338,000 to $286,000 a change of $52,000 for the reporting period. As of the end of the quarter Fisher Asset Management, LLC had disposed of 131,142 shares trimming its holdings by 2.3%. The value of the investment in RDY decreased from $235,960,000 to $195,109,000 decreasing 17.3% since the last quarter.

The company is trading down since yesterday’s close of 36.68. Additionally the company declared a dividend for shareholders paid on Thursday August 10th, 2017. The dividend was $0.078 per share for the quarter which is $0.31 annualized. The dividend yield was $0.86. The ex-dividend date was set for Thursday the 13th of July 2017.

The stock last traded at $36.25 just a bit higher than $35.63, the 50 day moving average and a tad under the 200 day moving average of $37.98. The 50 day moving average was up $0.62 or +1.74% whereas the 200 day moving average was down $-1.73 or -4.56%.

The company currently has a P/E ratio of 33.85 and the market cap is 6.01B.

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..