Shares of Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) fell 2.3% during mid-day trading on Wednesday . The company traded as low as $46.10 and last traded at $46.12, with a volume of 124,692 shares traded. The stock had previously closed at $47.20.

RDY has been the topic of a number of recent research reports. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, July 12th. Jefferies Group lowered Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $45.00 to $41.90 in a research note on Wednesday, July 27th. Credit Suisse Group AG lowered Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 26th. Finally, HSBC lowered Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research note on Wednesday, July 27th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.45.

The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 35.66 and a beta of 0.83. The company’s 50-day moving average is $45.82 and its 200 day moving average is $46.71.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.00 earnings per share for the quarter. The company earned $479 million during the quarter, compared to the consensus estimate of $557 million. Dr. Reddy’s Laboratories had a return on equity of 12.27% and a net margin of 10.09%. On average, equities research analysts expect that Dr. Reddy’s Laboratories Ltd. will post $1.33 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in RDY. Fox Run Management L.L.C. acquired a new stake in Dr. Reddy’s Laboratories during the first quarter valued at about $493,000. Aperio Group LLC boosted its stake in Dr. Reddy’s Laboratories by 17.8% in the first quarter. Aperio Group LLC now owns 150,236 shares of the company’s stock valued at $6,789,000 after buying an additional 22,728 shares during the period. Thomas White International Ltd. boosted its stake in Dr. Reddy’s Laboratories by 59.1% in the first quarter. Thomas White International Ltd. now owns 34,070 shares of the company’s stock valued at $1,540,000 after buying an additional 12,652 shares during the period. Motley Fool Asset Management LLC boosted its stake in Dr. Reddy’s Laboratories by 13.4% in the first quarter. Motley Fool Asset Management LLC now owns 124,956 shares of the company’s stock valued at $5,647,000 after buying an additional 14,779 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Dr. Reddy’s Laboratories by 74.7% in the first quarter. Franklin Resources Inc. now owns 15,916 shares of the company’s stock valued at $720,000 after buying an additional 6,806 shares during the period. 16.18% of the stock is owned by institutional investors.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is an integrated global pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter (OTC) finished pharmaceutical products, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

5 Day Chart for NYSE:RDY

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