Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from an underweight rating to a neutral rating in a research report sent to investors on Monday, MarketBeat Ratings reports.

RDY has been the topic of a number of other research reports. Citigroup raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and increased their price objective for the company from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. BNP Paribas Exane raised shares of Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 target price for the company in a research note on Monday, October 12th. Jefferies Financial Group raised shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “hold” rating and set a $13.90 target price for the company in a research note on Sunday. Weiss Ratings restated a “hold (c-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $492.90.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE:RDY opened at $14.14 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90. The business’s fifty day moving average price is $12.46 and its two-hundred day moving average price is $13.21. The stock has a market cap of $11.81 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.75 and a beta of 0.29. Dr. Reddy’s Laboratories has a one year low of $11.36 and a one year high of $15.67.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Friday, October 23rd. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 7.89% and a net margin of 8.56%. The company had revenue of $903.89 million during the quarter, compared to analysts’ expectations of $894.94 million. On average, analysts forecast that Dr. Reddy’s Laboratories will post 0.45 EPS for the current fiscal year.

Institutional Trading of Dr. Reddy’s Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of 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 valued at $138,293,000 after buying an additional 434,805 shares during the period. Bessemer Group Inc. increased its holdings in shares of Dr. Reddy’s Laboratories by 28.4% during the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock worth $25,253,000 after buying an additional 403,219 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Dr. Reddy’s Laboratories by 71.2% during the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock worth $8,824,000 after buying an additional 264,856 shares during the last quarter. Sei Investments Co. increased its holdings in shares of 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. Finally, Nykredit A S purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth $2,000,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a global 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 prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy’s offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.