Dr. Reddy’s Laboratories (NYSE:RDY) Rating Lowered to “Sell” at Wall Street Zen

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages also recently issued reports on RDY. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. The Goldman Sachs Group cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $11.78 on Friday. 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 has a 1-year low of $11.36 and a 1-year high of $15.67. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.37 and a beta of 0.25. The business has a 50-day moving average of $13.49 and a 200-day moving average of $13.63.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Tuesday, July 21st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to analysts’ expectations 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, equities analysts anticipate that Dr. Reddy’s Laboratories will post 0.47 EPS for the current fiscal year.

Institutional Trading of Dr. Reddy’s Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its holdings in Dr. Reddy’s Laboratories by 0.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 13,154,524 shares of the company’s stock valued at $184,690,000 after purchasing an additional 70,018 shares during the last quarter. Royal Bank of Canada increased its holdings in 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 purchasing an additional 434,805 shares during the last quarter. Morgan Stanley increased its holdings in Dr. Reddy’s Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock worth $125,322,000 after purchasing an additional 2,603,897 shares during the last quarter. Aikya Investment Management Ltd increased its holdings in Dr. Reddy’s Laboratories by 9.3% during the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock worth $103,033,000 after purchasing an additional 623,518 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Dr. Reddy’s Laboratories by 3.7% in the 4th quarter. BNP Paribas Financial Markets now owns 4,152,566 shares of the company’s stock valued at $58,302,000 after purchasing an additional 149,384 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India?based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost?effective generic treatments for branded drugs that have lost patent protection, along with in?house research into innovative molecule development.