Zacks Investment Research lowered shares of Dr.Reddy’s Laboratories (NYSE:RDY) from a strong-buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Dr. Reddy’s enjoys a strong position in the generics market. As of Jun 30, 2018, Dr. Reddy’s had 112 generic filings (109 abbreviated New Drug Applications [ANDAs] and three new drug applications) that are pending for the FDA approval. Of these 109 ANDAs, 61 were Para IV filings and 30 have first-to-file status. Approval of new generics should further bolster the portfolio. The company is also making inroads in the lucrative biosimilars market. In addition, the company’s focus on operational efficiencies helped in significantly improving its margin profile. Shares have outperformed the industry in the last twelve months. However, price erosion in the North America Generics market still persists. The European market is also witnessing a decline due to higher price erosion in some of the key molecules. Dr. Reddy’s is undertaking  strategic measures to combat these challenges. “

Separately, ValuEngine raised shares of Dr.Reddy’s Laboratories from a sell rating to a hold rating in a report on Wednesday, June 20th.

RDY stock opened at $35.47 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.64. Dr.Reddy’s Laboratories has a fifty-two week low of $28.13 and a fifty-two week high of $39.96. The stock has a market capitalization of $5.85 billion, a P/E ratio of 35.12 and a beta of 0.18.

Dr.Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.40 earnings per share for the quarter. Dr.Reddy’s Laboratories had a net margin of 9.41% and a return on equity of 11.74%. The business had revenue of $543.00 million for the quarter, compared to analysts’ expectations of $542.20 million. research analysts forecast that Dr.Reddy’s Laboratories will post 1.33 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc grew its position in Dr.Reddy’s Laboratories by 115.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,300 shares of the company’s stock valued at $140,000 after buying an additional 2,300 shares in the last quarter. Krane Funds Advisors LLC grew its position in Dr.Reddy’s Laboratories by 818.6% in the 2nd quarter. Krane Funds Advisors LLC now owns 4,703 shares of the company’s stock valued at $329,000 after buying an additional 4,191 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Dr.Reddy’s Laboratories by 53.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,432 shares of the company’s stock valued at $433,000 after buying an additional 4,698 shares in the last quarter. UBS Group AG grew its position in Dr.Reddy’s Laboratories by 11.4% in the 1st quarter. UBS Group AG now owns 59,831 shares of the company’s stock valued at $1,956,000 after buying an additional 6,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Dr.Reddy’s Laboratories in the 1st quarter valued at about $214,000. Hedge funds and other institutional investors own 12.27% of the company’s stock.

Dr.Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.

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