Dr. Reddy’s Laboratories (NYSE:RDY) Posts Earnings Results, Misses Estimates By $0.03 EPS

Dr. Reddy’s Laboratories (NYSE:RDY) issued its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03), Zacks reports. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.48%. The firm had revenue of $850.26 million for the quarter, compared to the consensus estimate of $850.56 million.

Dr. Reddy’s Laboratories Trading Up 3.9%

NYSE RDY opened at $11.82 on Friday. The company’s 50-day moving average price is $13.53 and its 200-day moving average price is $13.65. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The stock has a market cap of $9.87 billion, a PE ratio of 26.88, a PEG ratio of 1.75 and a beta of 0.25. Dr. Reddy’s Laboratories has a 12 month low of $11.36 and a 12 month high of $15.67.

Wall Street Analyst Weigh In

Several analysts have issued reports on RDY shares. The Goldman Sachs Group downgraded shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDY. Invesco Ltd. grew its stake in Dr. Reddy’s Laboratories by 7.6% in the 2nd quarter. Invesco Ltd. now owns 253,342 shares of the company’s stock worth $3,808,000 after acquiring an additional 17,907 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after acquiring an additional 1,294 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Dr. Reddy’s Laboratories by 23.3% during the second quarter. First Trust Advisors LP now owns 65,652 shares of the company’s stock valued at $987,000 after acquiring an additional 12,390 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Dr. Reddy’s Laboratories by 37.3% in the second quarter. Sei Investments Co. now owns 124,136 shares of the company’s stock valued at $1,866,000 after purchasing an additional 33,747 shares during the period. Finally, Quantinno Capital Management LP grew its stake in Dr. Reddy’s Laboratories by 92.6% in the second quarter. Quantinno Capital Management LP now owns 235,044 shares of the company’s stock worth $3,533,000 after purchasing an additional 112,988 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.