Dr. Reddy’s Laboratories Ltd (NYSE:RDY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.95.

RDY has been the topic of several recent analyst reports. HSBC raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and upped their target price for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday. Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, Hsbc Global Res upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 5th.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY stock opened at $14.26 on Tuesday. Dr. Reddy’s Laboratories has a twelve month low of $12.26 and a twelve month high of $16.85. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 5.72 and a beta of 0.29. The stock has a fifty day simple moving average of $14.73 and a two-hundred day simple moving average of $14.02. 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 (NYSE:RDY) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy’s Laboratories had a return on equity of 17.25% and a net margin of 16.99%. On average, analysts predict that Dr. Reddy’s Laboratories will post 0.8 EPS for the current fiscal year.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in RDY. Robeco Institutional Asset Management B.V. raised its stake in Dr. Reddy’s Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock valued at $182,816,000 after acquiring an additional 1,452,192 shares during the last quarter. Royal Bank of Canada raised its stake in Dr. Reddy’s Laboratories by 403.1% during the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock valued at $158,489,000 after acquiring an additional 8,042,163 shares during the last quarter. Aikya Investment Management Ltd raised its stake in Dr. Reddy’s Laboratories by 2.5% during the 2nd quarter. Aikya Investment Management Ltd now owns 6,354,979 shares of the company’s stock valued at $95,515,000 after acquiring an additional 154,604 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Dr. Reddy’s Laboratories by 157.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock worth $88,839,000 after buying an additional 3,617,435 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Dr. Reddy’s Laboratories by 405.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock worth $84,643,000 after buying an additional 4,301,212 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

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, as well as engages in the biologics business.