Dr.Reddy’s Laboratories Ltd (NYSE:RDY) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $40.00.
A number of analysts have weighed in on the stock. Nomura Instinet reissued a “buy” rating on shares of Dr.Reddy’s Laboratories in a report on Tuesday, April 21st. ValuEngine raised shares of Dr.Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Friday, March 13th.
RDY traded up $0.58 during midday trading on Friday, reaching $52.88. 172,524 shares of the company’s stock were exchanged, compared to its average volume of 197,179. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.79 and a quick ratio of 1.31. The stock has a market capitalization of $8.76 billion, a PE ratio of 32.24 and a beta of 0.49. The business’s 50-day moving average price is $52.09 and its 200 day moving average price is $45.72. Dr.Reddy’s Laboratories has a 1-year low of $33.33 and a 1-year high of $55.19.
Dr.Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Wednesday, May 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $552.28 million. Dr.Reddy’s Laboratories had a net margin of 11.15% and a return on equity of 19.83%. As a group, analysts expect that Dr.Reddy’s Laboratories will post 1.84 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of Dr.Reddy’s Laboratories by 15.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,708,882 shares of the company’s stock worth $69,346,000 after acquiring an additional 230,400 shares during the period. State Street Corp increased its holdings in shares of Dr.Reddy’s Laboratories by 39.6% in the 1st quarter. State Street Corp now owns 1,027,386 shares of the company’s stock worth $41,434,000 after acquiring an additional 291,320 shares during the period. Goldman Sachs Group Inc. grew its position in Dr.Reddy’s Laboratories by 42.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 893,462 shares of the company’s stock valued at $36,257,000 after buying an additional 266,299 shares in the last quarter. Aperio Group LLC grew its position in Dr.Reddy’s Laboratories by 10.1% in the 1st quarter. Aperio Group LLC now owns 818,713 shares of the company’s stock valued at $33,019,000 after buying an additional 74,942 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Dr.Reddy’s Laboratories by 5.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 664,317 shares of the company’s stock valued at $26,792,000 after buying an additional 35,857 shares in the last quarter. 12.88% of the stock is currently owned by institutional investors and hedge funds.
About Dr.Reddy’s Laboratories
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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