Dr. Reddy’s Laboratories Ltd. (RDY) Shares Gap Up to $46.04
Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) gapped up prior to trading on Monday . The stock had previously closed at $45.48, but opened at $46.04. Dr. Reddy’s Laboratories shares last traded at $46.94, with a volume of 234,200 shares trading hands.
RDY has been the topic of a number of recent research reports. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, July 12th. HSBC lowered Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research note on Wednesday, July 27th. Jefferies Group lowered Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and reduced their target price for the company from $45.00 to $41.90 in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG lowered Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 26th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.45.
The firm has a 50-day moving average price of $46.65 and a 200 day moving average price of $46.49. The firm has a market cap of $7.77 billion and a P/E ratio of 35.86.
Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.00 EPS for the quarter. The company had revenue of $479 million for the quarter, compared to analyst estimates of $557 million. On average, equities research analysts expect that Dr. Reddy’s Laboratories Ltd. will post $1.33 earnings per share for the current year.
Dr. Reddy’s Laboratories Limited is an integrated global pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter (OTC) finished pharmaceutical products, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).
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