Dr. Reddy’s Laboratories (NYSE:RDY) Announces Earnings Results

Dr. Reddy’s Laboratories (NYSE:RDY) released its quarterly earnings results on Friday. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01, Zacks reports. Dr. Reddy’s Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $944.26 million.

Dr. Reddy’s Laboratories Stock Down 0.0%

Shares of NYSE RDY opened at $14.62 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. Dr. Reddy’s Laboratories has a 12 month low of $12.26 and a 12 month high of $16.17. The firm has a market capitalization of $12.20 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 5.74 and a beta of 0.40. The firm has a fifty day simple moving average of $14.36 and a two-hundred day simple moving average of $14.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RDY. EverSource Wealth Advisors LLC raised its holdings in Dr. Reddy’s Laboratories by 71.7% in the 2nd 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 in the last quarter. Raymond James Financial Inc. bought a new position in Dr. Reddy’s Laboratories in the 2nd quarter worth $67,000. Osaic Holdings Inc. raised its holdings in Dr. Reddy’s Laboratories by 1,105.3% in the 2nd quarter. Osaic Holdings Inc. now owns 11,390 shares of the company’s stock worth $158,000 after purchasing an additional 10,445 shares in the last quarter. Modern Wealth Management LLC raised its holdings in Dr. Reddy’s Laboratories by 12.6% in the 2nd quarter. Modern Wealth Management LLC now owns 17,785 shares of the company’s stock worth $267,000 after purchasing an additional 1,996 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Dr. Reddy’s Laboratories by 26.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 18,300 shares of the company’s stock worth $275,000 after purchasing an additional 3,817 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RDY. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Friday. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Dr. Reddy’s Laboratories Company Profile

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.