FY2023 EPS Estimates for Dr. Reddy’s Laboratories Limited (NYSE:RDY) Decreased by Analyst

Dr. Reddy’s Laboratories Limited (NYSE:RDYGet Rating) – Investment analysts at Jefferies Financial Group lowered their FY2023 earnings per share estimates for shares of Dr. Reddy’s Laboratories in a research report issued to clients and investors on Tuesday, January 10th. Jefferies Financial Group analyst D. Khut now forecasts that the company will post earnings per share of $3.57 for the year, down from their prior forecast of $3.85. The consensus estimate for Dr. Reddy’s Laboratories’ current full-year earnings is $3.25 per share. Jefferies Financial Group also issued estimates for Dr. Reddy’s Laboratories’ FY2024 earnings at $3.51 EPS.

Dr. Reddy’s Laboratories (NYSE:RDYGet Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.23. The firm had revenue of $775.00 million for the quarter, compared to the consensus estimate of $763.28 million. Dr. Reddy’s Laboratories had a return on equity of 18.64% and a net margin of 13.74%.

Other research analysts have also issued research reports about the company. Credit Suisse Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a report on Monday, November 14th. StockNews.com upgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 31st. Finally, Barclays lifted their target price on shares of Dr. Reddy’s Laboratories from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, October 31st.

Dr. Reddy’s Laboratories Trading Up 0.4 %

NYSE:RDY opened at $53.60 on Friday. The stock’s 50 day moving average price is $53.91 and its 200 day moving average price is $53.56. The company has a market capitalization of $8.93 billion, a PE ratio of 22.71, a P/E/G ratio of 0.51 and a beta of 0.45. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.01. Dr. Reddy’s Laboratories has a 52-week low of $47.88 and a 52-week high of $63.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its holdings in Dr. Reddy’s Laboratories by 1.5% during the third quarter. Envestnet Asset Management Inc. now owns 12,388 shares of the company’s stock worth $648,000 after acquiring an additional 187 shares during the period. CWM LLC grew its holdings in Dr. Reddy’s Laboratories by 30.4% during the second quarter. CWM LLC now owns 960 shares of the company’s stock worth $53,000 after acquiring an additional 224 shares during the period. Lindbrook Capital LLC grew its holdings in Dr. Reddy’s Laboratories by 17.2% during the second quarter. Lindbrook Capital LLC now owns 2,340 shares of the company’s stock worth $130,000 after acquiring an additional 344 shares during the period. Signaturefd LLC grew its holdings in Dr. Reddy’s Laboratories by 2.7% during the third quarter. Signaturefd LLC now owns 14,560 shares of the company’s stock worth $762,000 after acquiring an additional 387 shares during the period. Finally, Veriti Management LLC grew its holdings in Dr. Reddy’s Laboratories by 10.5% during the third quarter. Veriti Management LLC now owns 6,009 shares of the company’s stock worth $315,000 after acquiring an additional 571 shares during the period. Institutional investors and hedge funds own 9.81% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

(Get Rating)

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), Proprietary Products, 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.

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Earnings History and Estimates for Dr. Reddy's Laboratories (NYSE:RDY)

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