Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Lowered by The Goldman Sachs Group

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, Marketbeat.com reports.

Separately, Weiss Ratings lowered shares of Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Trading Up 0.7%

NYSE RDY opened at $13.67 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. Dr. Reddy’s Laboratories has a one year low of $12.77 and a one year high of $16.17. The business has a 50 day simple moving average of $13.84 and a 200 day simple moving average of $13.87. The stock has a market capitalization of $11.41 billion, a P/E ratio of 17.75, a P/E/G ratio of 21.09 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The firm had revenue of $969.81 million during the quarter, compared to analysts’ expectations of $963.84 million. Research analysts expect that Dr. Reddy’s Laboratories will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several large investors have recently bought and sold shares of the stock. MQS Management LLC bought a new stake in shares of Dr. Reddy’s Laboratories in the 1st quarter worth $185,000. Venturi Wealth Management LLC lifted its position in shares of Dr. Reddy’s Laboratories by 174.6% during the first quarter. Venturi Wealth Management LLC now owns 40,360 shares of the company’s stock valued at $559,000 after purchasing an additional 25,660 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Dr. Reddy’s Laboratories during the first quarter worth about $202,000. Assenagon Asset Management S.A. bought a new stake in Dr. Reddy’s Laboratories in the 1st quarter worth about $1,898,000. Finally, SG Americas Securities LLC bought a new stake in Dr. Reddy’s Laboratories in the 1st quarter worth about $1,140,000. 3.85% of the stock is currently owned by institutional investors.

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.