Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY – Get Free Report) reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.42 and last traded at $12.3950, with a volume of 419993 shares traded. The stock had previously closed at $13.14.
The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.28% and a net margin of 12.90%.The firm had revenue of $852.55 million for the quarter, compared to analyst estimates of $886.58 million.
Wall Street Analyst Weigh In
RDY has been the subject of several research reports. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. The Goldman Sachs Group downgraded shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.90.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of RDY. Rockefeller Capital Management L.P. lifted its holdings in shares of Dr. Reddy’s Laboratories by 67.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after purchasing an additional 821 shares during the period. Russell Investments Group Ltd. increased its stake in Dr. Reddy’s Laboratories by 803.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after buying an additional 2,749 shares during the period. Larson Financial Group LLC increased its stake in Dr. Reddy’s Laboratories by 81.5% in the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after buying an additional 1,425 shares during the period. EverSource Wealth Advisors LLC raised its position in Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after buying an additional 1,294 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Dr. Reddy’s Laboratories by 94.8% during the 3rd quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock worth $65,000 after buying an additional 2,236 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.
Dr. Reddy’s Laboratories Price Performance
The company has a market cap of $11.28 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 19.35 and a beta of 0.27. The company’s 50 day moving average price is $13.60 and its 200 day moving average price is $13.79. The company has a current ratio of 1.88, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03.
About Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.
The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.
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