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

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.90.

RDY has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research report on Wednesday, October 8th. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th.

Dr. Reddy’s Laboratories Trading Up 0.7%

Shares of Dr. Reddy’s Laboratories stock opened at $13.98 on Thursday. Dr. Reddy’s Laboratories has a 12-month low of $12.26 and a 12-month high of $16.17. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The stock has a market cap of $11.67 billion, a P/E ratio of 17.26, a P/E/G ratio of 6.22 and a beta of 0.37. The business’s 50 day moving average is $14.08 and its 200-day moving average is $14.43.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Friday, October 24th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The firm had revenue of $21.35 million for the quarter, compared to analysts’ expectations of $944.26 million. Equities research analysts predict that Dr. Reddy’s Laboratories will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several large investors have recently added to or reduced their stakes in RDY. JPMorgan Chase & Co. grew its position in shares of Dr. Reddy’s Laboratories by 2.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock valued at $84,267,000 after acquiring an additional 116,924 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in shares of Dr. Reddy’s Laboratories by 19.0% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 191,397 shares of the company’s stock worth $2,676,000 after acquiring an additional 30,527 shares during the last quarter. Citadel Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 34.0% in the 3rd quarter. Citadel Advisors LLC now owns 134,282 shares of the company’s stock worth $1,877,000 after purchasing an additional 34,080 shares during the period. Aquatic Capital Management LLC raised its stake in shares of Dr. Reddy’s Laboratories by 2.3% during the third quarter. Aquatic Capital Management LLC now owns 68,168 shares of the company’s stock valued at $953,000 after acquiring an additional 1,536 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 20.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 22,125 shares of the company’s stock valued at $309,000 after purchasing an additional 3,825 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

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.