Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also commented on the company. Citigroup upgraded Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and raised their price objective for the stock from $1,040.00 to $1,450.00 in a research report on Tuesday, September 29th. BNP Paribas Exane raised Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 target price on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $732.40.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY stock opened at $13.10 on Friday. Dr. Reddy’s Laboratories has a 1-year low of $11.36 and a 1-year high of $15.67. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.72 and a beta of 0.29. The stock’s fifty day simple moving average is $12.29 and its 200-day simple moving average is $12.91.

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

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in Dr. Reddy’s Laboratories by 4.6% in the 1st 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 last quarter. Bessemer Group Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 28.4% during the 1st 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 in the last quarter. Nykredit A S purchased a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth about $2,000,000. Quantinno Capital Management LP lifted its holdings in shares of Dr. Reddy’s Laboratories by 71.2% during the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after buying an additional 264,856 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Dr. Reddy’s Laboratories during the 1st quarter valued at about $1,422,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.