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

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. BNP Paribas Exane upgraded 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. Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and boosted their price target for the stock from $1,040.00 to $1,450.00 in a report on Tuesday, September 29th. Finally, Weiss Ratings lowered shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $732.40.

Dr. Reddy’s Laboratories Trading Down 0.2%

NYSE:RDY opened at $13.04 on Friday. Dr. Reddy’s Laboratories has a 52 week low of $11.36 and a 52 week high of $15.67. The firm has a 50-day moving average price of $12.27 and a two-hundred day moving average price of $12.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.72 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $850.56 million. Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. On average, equities analysts expect that Dr. Reddy’s Laboratories will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of Dr. Reddy’s Laboratories by 4.6% during the 1st quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock worth $138,293,000 after acquiring an additional 434,805 shares during the last quarter. Bessemer Group Inc. grew 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 acquiring an additional 403,219 shares in the last quarter. Quantinno Capital Management LP grew its position in Dr. Reddy’s Laboratories by 71.2% in the first quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock worth $8,824,000 after acquiring an additional 264,856 shares in the last quarter. Sei Investments Co. grew its position in Dr. Reddy’s Laboratories by 79.3% in the first quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock worth $6,049,000 after acquiring an additional 193,174 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in Dr. Reddy’s Laboratories by 18.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 434,529 shares of the company’s stock valued at $6,296,000 after acquiring an additional 69,044 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a multinational 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 pharmaceuticals, branded generics, over-the-counter products, active pharmaceutical ingredients and biosimilars. Dr. Reddy’s portfolio spans therapeutic areas such as gastrointestinal, cardiovascular, diabetes, oncology, pain management, dermatology and central nervous system treatments.