Mon Oct 28 06:58:34 UTC 2024: ## Dr. Reddy’s Laboratories to Split Stock 5-for-1
**Hyderabad, India -** Dr. Reddy’s Laboratories (NYSE:RDY) will split its stock 5-for-1, effective November 5th. The company announced the stock split on September 12th, and the new shares will be distributed to shareholders after the market closes on November 4th.
The move comes as Dr. Reddy’s continues to see strong growth in its Global Generics segment, which manufactures and markets prescription and over-the-counter pharmaceutical products. The company reported $1.00 in earnings per share for the quarter ending July 27th, narrowly missing analysts’ expectations of $1.10.
Despite the slight miss, Barclays raised its price target on Dr. Reddy’s shares from $81.00 to $87.00, giving the company an “overweight” rating. This suggests the firm remains optimistic about the company’s future prospects.
Dr. Reddy’s has a market capitalization of $12.94 billion and a PE ratio of 19.24, reflecting its strong financial performance. The company’s fifty-two week low is $63.72 and its fifty-two week high is $84.46.
Investors are watching to see if the stock split will boost Dr. Reddy’s trading volume and attract new investors. The stock split is expected to make the shares more accessible to a wider range of investors.
**About Dr. Reddy’s Laboratories:**
Dr. Reddy’s Laboratories is a leading pharmaceutical company with operations worldwide. The company focuses on manufacturing and marketing generic and branded pharmaceuticals, pharmaceutical services, and active ingredients.
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