Dr. Reddy’s Laboratories (NYSE:RDY) Raised to Hold at Wall Street Zen

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Stock Down 0.1%

RDY stock opened at $12.17 on Friday. The stock has a market cap of $10.16 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.55 and a beta of 0.29. The firm’s 50-day simple moving average is $12.86 and its 200 day simple moving average is $13.39. Dr. Reddy’s Laboratories has a fifty-two week low of $11.36 and a fifty-two week high of $15.67. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The firm had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. As a group, sell-side analysts predict that Dr. Reddy’s Laboratories will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aikya Investment Management Ltd increased its stake in shares of Dr. Reddy’s Laboratories by 9.3% during the fourth quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock valued at $103,033,000 after acquiring an additional 623,518 shares during the period. Royal Bank of Canada lifted its position in Dr. Reddy’s Laboratories by 4.6% in the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock worth $138,293,000 after purchasing an additional 434,805 shares during the period. Bessemer Group Inc. lifted its position in Dr. Reddy’s Laboratories by 28.4% in the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock worth $25,253,000 after purchasing an additional 403,219 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Dr. Reddy’s Laboratories in the first quarter worth approximately $1,422,000. Finally, Frank Rimerman Advisors LLC boosted its stake in Dr. Reddy’s Laboratories by 185.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 174,383 shares of the company’s stock valued at $2,415,000 after purchasing an additional 113,367 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.