Dr. Reddy’s Laboratories (NYSE:RDY) Issues Earnings Results, Beats Estimates By $0.01 EPS

Dr. Reddy’s Laboratories (NYSE:RDY) posted its quarterly earnings data on Friday. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01, Zacks reports. Dr. Reddy’s Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $944.26 million.

Dr. Reddy’s Laboratories Stock Down 0.0%

Dr. Reddy’s Laboratories stock opened at $14.62 on Friday. The company has a market capitalization of $12.20 billion, a P/E ratio of 22.14, a P/E/G ratio of 5.75 and a beta of 0.40. The firm’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $14.38. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. Dr. Reddy’s Laboratories has a 1-year low of $12.26 and a 1-year high of $16.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter valued at $67,000. Osaic Holdings Inc. raised its holdings in shares of Dr. Reddy’s Laboratories by 1,105.3% during the 2nd quarter. Osaic Holdings Inc. now owns 11,390 shares of the company’s stock valued at $158,000 after purchasing an additional 10,445 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 12.6% during the 2nd quarter. Modern Wealth Management LLC now owns 17,785 shares of the company’s stock valued at $267,000 after purchasing an additional 1,996 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Dr. Reddy’s Laboratories by 26.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 18,300 shares of the company’s stock valued at $275,000 after purchasing an additional 3,817 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RDY shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Friday. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Dr. Reddy’s Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $16.95.

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.