Brokerages Set Dr. Reddy’s Laboratories Ltd (NYSE:RDY) Price Target at $16.90

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.90.

A number of equities research analysts recently weighed in on RDY shares. Zacks Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday, October 8th.

Dr. Reddy’s Laboratories Stock Up 0.4%

RDY stock opened at $14.05 on Thursday. The stock’s 50 day simple moving average is $14.05 and its 200 day simple moving average is $14.43. The company has a market cap of $11.73 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 6.22 and a beta of 0.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.85. Dr. Reddy’s Laboratories has a fifty-two week low of $12.26 and a fifty-two week high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, October 24th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.13% and a net margin of 17.14%.The firm had revenue of $21.35 million during the quarter, compared to analysts’ expectations of $944.26 million. On average, research analysts expect that Dr. Reddy’s Laboratories will post 0.8 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 RDY. LPL Financial LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 10.0% in the first quarter. LPL Financial LLC now owns 140,918 shares of the company’s stock valued at $1,859,000 after purchasing an additional 12,792 shares during the last quarter. Thornburg Investment Management Inc. grew its position in Dr. Reddy’s Laboratories by 1.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 71,001 shares of the company’s stock worth $937,000 after purchasing an additional 1,250 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Dr. Reddy’s Laboratories by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company’s stock valued at $524,000 after buying an additional 1,099 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth approximately $26,000. Finally, Vanguard Group Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company’s stock worth $65,985,000 after buying an additional 106,457 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.