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

Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.90.

Several equities research analysts recently commented on RDY shares. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Wednesday, October 8th.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY opened at $13.94 on Thursday. The stock has a 50 day simple moving average of $14.03 and a 200 day simple moving average of $14.43. Dr. Reddy’s Laboratories has a 52-week low of $12.26 and a 52-week high of $16.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.85. The firm has a market capitalization of $11.64 billion, a PE ratio of 17.21, a P/E/G ratio of 6.22 and a beta of 0.37.

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

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in Dr. Reddy’s Laboratories during the 1st quarter worth approximately $26,000. Westside Investment Management Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the second quarter worth $35,000. EverSource Wealth Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after purchasing an additional 1,294 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock worth $50,000 after purchasing an additional 2,444 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Dr. Reddy’s Laboratories in the second quarter valued at $67,000. Institutional investors and hedge funds 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.