Dr. Reddy’s Laboratories (NYSE:RDY) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

RDY has been the topic of several other reports. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Trading Down 0.2%

Dr. Reddy’s Laboratories stock opened at $11.78 on Friday. Dr. Reddy’s Laboratories has a 12 month low of $11.36 and a 12 month high of $15.67. The company has a quick ratio of 1.34, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. The stock has a market cap of $9.83 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.17 and a beta of 0.25. The company’s fifty day simple moving average is $13.49 and its 200-day simple moving average is $13.63.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $850.26 million for the quarter, compared to analysts’ expectations of $850.56 million. Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. As a group, sell-side analysts forecast that Dr. Reddy’s Laboratories will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley boosted its stake in shares of Dr. Reddy’s Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock worth $125,322,000 after acquiring an additional 2,603,897 shares in the last quarter. Aikya Investment Management Ltd lifted its holdings in Dr. Reddy’s Laboratories by 9.3% in the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock worth $103,033,000 after purchasing an additional 623,518 shares during the last quarter. Marshall Wace LLP lifted its holdings in Dr. Reddy’s Laboratories by 1,699.4% in the 4th quarter. Marshall Wace LLP now owns 516,256 shares of the company’s stock worth $7,248,000 after purchasing an additional 487,565 shares during the last quarter. Royal Bank of Canada boosted its position in Dr. Reddy’s Laboratories by 4.6% during the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock worth $138,293,000 after purchasing an additional 434,805 shares during the period. Finally, Bessemer Group Inc. boosted its position in Dr. Reddy’s Laboratories by 28.4% during the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock worth $25,253,000 after purchasing an additional 403,219 shares during the period. Institutional investors own 3.85% of the company’s stock.

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.