Dr. Reddy’s Laboratories (NYSE:RDY) Lowered to Sell Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a neutral rating to a sell rating in a research note released on Thursday, Marketbeat Ratings reports.

Separately, Weiss Ratings lowered Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $13.59 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. The firm has a market capitalization of $11.34 billion, a P/E ratio of 17.64, a P/E/G ratio of 19.94 and a beta of 0.35. The business’s 50-day moving average is $13.84 and its two-hundred day moving average is $13.87. Dr. Reddy’s Laboratories has a 1 year low of $12.77 and a 1 year high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%. Analysts anticipate that Dr. Reddy’s Laboratories will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its stake in 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 last quarter. Russell Investments Group Ltd. boosted its holdings in Dr. Reddy’s Laboratories by 803.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after purchasing an additional 2,749 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Dr. Reddy’s Laboratories by 81.5% in the fourth quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after purchasing an additional 1,425 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 71.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 217.4% in the third quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock valued at $50,000 after purchasing an additional 2,444 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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.