Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Raised to Hold 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 report issued on Saturday,Wall Street Zen reports.

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

Dr. Reddy’s Laboratories Stock Up 1.1%

Shares of NYSE RDY opened at $13.04 on Friday. The business has a 50-day moving average of $12.27 and a two-hundred day moving average of $12.92. The company has a market capitalization 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 has a 1 year low of $11.36 and a 1 year high of $15.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.39.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 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 business had revenue of $850.26 million during the quarter, compared to analysts’ expectations of $850.56 million. On average, analysts forecast that Dr. Reddy’s Laboratories will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Dr. Reddy’s Laboratories by 4.6% during 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 in the last quarter. Bessemer Group Inc. boosted its position in shares of Dr. Reddy’s Laboratories by 28.4% in the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after purchasing an additional 403,219 shares during the period. Quantinno Capital Management LP boosted its position in shares of Dr. Reddy’s Laboratories by 71.2% in the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after purchasing an additional 264,856 shares during the period. B. Metzler seel. Sohn & Co. AG grew its stake in Dr. Reddy’s Laboratories by 18.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 434,529 shares of the company’s stock worth $6,296,000 after buying an additional 69,044 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Dr. Reddy’s Laboratories by 79.3% during the 1st quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock worth $6,049,000 after buying an additional 193,174 shares during the last quarter. 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 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.