Dr. Reddy’s Laboratories (NYSE:RDY) Rating Lowered to Buy at StockNews.com

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other analysts also recently issued reports on the company. Barclays raised their price target on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.00.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY opened at $74.02 on Tuesday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.86 and a beta of 0.58. The stock has a 50 day moving average of $74.06 and a 200-day moving average of $70.61. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a 52 week low of $53.12 and a 52 week high of $77.72.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. The business had revenue of $867.00 million for the quarter, compared to the consensus estimate of $827.81 million. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. As a group, analysts forecast that Dr. Reddy’s Laboratories will post 3.96 EPS for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

Several hedge funds have recently added to or reduced their stakes in RDY. SG Americas Securities LLC raised its stake in Dr. Reddy’s Laboratories by 20.7% during the 3rd quarter. SG Americas Securities LLC now owns 9,675 shares of the company’s stock valued at $647,000 after acquiring an additional 1,658 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Dr. Reddy’s Laboratories in the 3rd quarter worth $40,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Dr. Reddy’s Laboratories by 100.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,000 shares of the company’s stock worth $264,000 after buying an additional 2,000 shares in the last quarter. Advisor Partners II LLC raised its stake in shares of Dr. Reddy’s Laboratories by 79.4% in the 3rd quarter. Advisor Partners II LLC now owns 13,126 shares of the company’s stock worth $878,000 after buying an additional 5,811 shares in the last quarter. Finally, Henry James International Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 17.7% in the 3rd quarter. Henry James International Management Inc. now owns 17,796 shares of the company’s stock worth $1,190,000 after buying an additional 2,671 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.

About Dr. Reddy’s Laboratories

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.