Dr. Reddy’s Laboratories Ltd (NYSE:RDY) Stock Has Average Target Price of $492.90 According to Analysts

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $492.90.

A number of analysts recently commented on RDY shares. BNP Paribas Exane raised Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 price target for the company in a research note on Monday, October 12th. Jefferies Financial Group raised shares of Dr. Reddy’s Laboratories to a “hold” rating and set a $13.90 price objective on the stock in a research report on Sunday. Wall Street Zen raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday. Finally, Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and raised their target price for the stock from $1,040.00 to $1,450.00 in a research report on Tuesday, September 29th.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its position in Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. KBC Group NV bought a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter worth approximately $76,000. EverSource Wealth Advisors LLC raised its position in shares of Dr. Reddy’s Laboratories by 104.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,655 shares of the company’s stock worth $78,000 after acquiring an additional 2,888 shares in the last quarter. Enterprise Financial Services Corp bought a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter worth approximately $140,000. Finally, Resonant Capital Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at approximately $146,000. 3.85% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Trading Down 0.2%

Shares of RDY stock traded down $0.03 during trading hours on Friday, reaching $13.20. The company’s stock had a trading volume of 3,909,240 shares, compared to its average volume of 3,228,858. The stock has a market capitalization of $11.02 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.75 and a beta of 0.29. Dr. Reddy’s Laboratories has a one year low of $11.36 and a one year high of $15.67. The firm’s fifty day simple moving average is $12.35 and its 200 day simple moving average is $12.91. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Friday, October 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $903.89 million for the quarter, compared to analysts’ expectations of $894.94 million. Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. Equities research analysts expect that Dr. Reddy’s Laboratories will post 0.45 EPS for the current year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy’s offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.