Dr. Reddy’s Laboratories Ltd (RDY) – What Are Researchers Saying About This Stock?

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $492.90.

RDY has been the subject of several recent research reports. BNP Paribas Exane upgraded Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 price target for the company in a report on Monday, October 12th. Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, October 17th. JPMorgan Chase & Co. raised shares of Dr. Reddy’s Laboratories from an “underweight” rating to a “neutral” rating in a research report on Monday, October 26th. Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and raised their price target for the company from $1,040.00 to $1,450.00 in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenleaf Trust lifted its position in shares of Dr. Reddy’s Laboratories by 0.8% in the 3rd quarter. Greenleaf Trust now owns 122,435 shares of the company’s stock valued at $1,545,000 after acquiring an additional 969 shares in the last quarter. Canopy Partners LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 7.4% during the third quarter. Canopy Partners LLC now owns 17,998 shares of the company’s stock valued at $227,000 after buying an additional 1,242 shares in the last quarter. Quadrant Capital Group LLC raised its position in Dr. Reddy’s Laboratories by 59.6% during the third quarter. Quadrant Capital Group LLC now owns 178,558 shares of the company’s stock valued at $2,280,000 after buying an additional 66,697 shares during the period. Frank Rimerman Advisors LLC lifted its stake in Dr. Reddy’s Laboratories by 93.6% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 126,709 shares of the company’s stock worth $1,599,000 after acquiring an additional 61,274 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Dr. Reddy’s Laboratories by 7.6% in the 2nd quarter. QRG Capital Management Inc. now owns 41,233 shares of the company’s stock worth $597,000 after acquiring an additional 2,909 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.6%

Shares of NYSE:RDY opened at $14.19 on Friday. The stock has a market cap of $11.84 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.95 and a beta of 0.29. The firm has a fifty day moving average price of $12.54 and a 200 day moving average price of $13.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.39. Dr. Reddy’s Laboratories has a 1-year low of $11.36 and a 1-year high of $15.67.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Saturday, October 24th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business 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 7.91% and a net margin of 8.56%. Sell-side analysts predict that Dr. Reddy’s Laboratories will post 0.45 EPS for the current year.

About Dr. Reddy’s Laboratories

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.