Brokerages Set Dr. Reddy’s Laboratories Ltd (NYSE:RDY) Target Price at $16.95

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.90.

A number of analysts have commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Wednesday, October 8th. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RDY. Robeco Institutional Asset Management B.V. raised its stake in Dr. Reddy’s Laboratories by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock valued at $182,921,000 after acquiring an additional 921,078 shares during the period. Aikya Investment Management Ltd raised its position in shares of Dr. Reddy’s Laboratories by 5.7% in the third quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company’s stock valued at $93,876,000 after purchasing an additional 360,028 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Dr. Reddy’s Laboratories by 2.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock worth $84,267,000 after buying an additional 116,924 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,123,709 shares of the company’s stock worth $71,629,000 after buying an additional 148,662 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Dr. Reddy’s Laboratories by 58.0% during the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock worth $60,454,000 after buying an additional 1,682,363 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Down 0.2%

RDY stock opened at $13.45 on Friday. The company has a market cap of $11.23 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 6.22 and a beta of 0.37. Dr. Reddy’s Laboratories has a twelve month low of $12.26 and a twelve month high of $16.17. The business has a 50 day moving average price of $14.23 and a two-hundred day moving average price of $14.42. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Friday, October 24th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.13% and a net margin of 17.14%.The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $944.26 million. Analysts anticipate that Dr. Reddy’s Laboratories will post 0.8 EPS for the current fiscal year.

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.