Hsbc Global Res Upgrades Dr. Reddy’s Laboratories (NYSE:RDY) to “Strong-Buy”

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by stock analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on RDY. Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. HSBC upgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.44 to $16.90 in a report on Thursday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Buy” and an average target price of $16.95.

Dr. Reddy’s Laboratories Stock Up 0.1%

Dr. Reddy’s Laboratories stock opened at $15.54 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a 1-year low of $12.26 and a 1-year high of $16.89. The company has a fifty day simple moving average of $13.86 and a 200 day simple moving average of $14.04. The company has a market cap of $12.97 billion, a P/E ratio of 24.75 and a beta of 0.33.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. The company had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. Research analysts anticipate that Dr. Reddy’s Laboratories will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings 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 purchasing an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 382.9% in the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock valued at $148,717,000 after purchasing an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd raised its position in shares of Dr. Reddy’s Laboratories by 416.1% in the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock valued at $88,590,000 after purchasing an additional 4,523,303 shares during the period. Dimensional Fund Advisors LP lifted 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 during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company’s stock worth $65,985,000 after buying an additional 106,457 shares during the last quarter. 3.85% of the stock is currently owned by 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.