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

StockNews.com cut shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a strong-buy rating to a buy rating in a research note released on Tuesday.

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

Dr. Reddy’s Laboratories Trading Down 1.3 %

RDY opened at $73.47 on Tuesday. The stock’s fifty day moving average is $74.10 and its two-hundred day moving average is $70.59. The company has a market capitalization of $12.26 billion, a P/E ratio of 19.39, a PEG ratio of 1.86 and a beta of 0.58. Dr. Reddy’s Laboratories has a 52 week low of $53.12 and a 52 week high of $77.72. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

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, beating analysts’ consensus estimates of $0.88 by $0.11. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. The business had revenue of $867.00 million for the quarter, compared to the consensus estimate of $827.81 million. Analysts forecast that Dr. Reddy’s Laboratories will post 3.96 earnings per share for the current year.

Institutional Trading of Dr. Reddy’s Laboratories

A number of hedge funds have recently modified their holdings of RDY. GAMMA Investing LLC acquired a new position in Dr. Reddy’s Laboratories in the 4th quarter worth about $34,000. FSC Wealth Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories during the third quarter valued at approximately $40,000. CWM LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 37.9% during the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock valued at $151,000 after acquiring an additional 598 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at approximately $189,000. Finally, Aprio Wealth Management LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

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.