Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Raised to “Neutral” at JPMorgan Chase & Co.

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Monday, Marketbeat Ratings reports.

Several other equities analysts also recently weighed in on RDY. Wall Street Zen upgraded 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. 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. Jefferies Financial Group raised shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “hold” rating and set a $13.90 price objective for the company in a research note on Sunday. Finally, Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and upped their price objective for the company from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $492.90.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $13.20 on Monday. Dr. Reddy’s Laboratories has a 52-week low of $11.36 and a 52-week high of $15.67. The stock’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $12.91. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.75 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, October 23rd. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $903.89 million during the quarter, compared to the consensus estimate of $894.94 million. Dr. Reddy’s Laboratories had a return on equity of 7.89% and a net margin of 8.56%. Equities research analysts expect that Dr. Reddy’s Laboratories will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its stake in shares of 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 buying an additional 821 shares during the period. KBC Group NV purchased a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter worth $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 buying an additional 2,888 shares during the period. Enterprise Financial Services Corp purchased a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter worth $140,000. Finally, Resonant Capital Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter worth $146,000. 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.