Dr.Reddy’s Laboratories Ltd (NYSE:RDY) has earned a consensus rating of “Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $39.50.
RDY has been the subject of a number of recent research reports. Nomura Instinet restated a “buy” rating on shares of Dr.Reddy’s Laboratories in a research note on Tuesday, April 21st. ValuEngine upgraded shares of Dr.Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, March 13th.
NYSE RDY traded down $1.97 on Monday, reaching $52.46. The company had a trading volume of 4,713 shares, compared to its average volume of 224,959. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 33.19 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.79. Dr.Reddy’s Laboratories has a 1-year low of $33.33 and a 1-year high of $54.86. The company’s fifty day moving average is $51.46 and its 200-day moving average is $44.35.
Dr.Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Wednesday, May 20th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.12. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $552.28 million. Dr.Reddy’s Laboratories had a net margin of 11.15% and a return on equity of 19.52%. On average, research analysts forecast that Dr.Reddy’s Laboratories will post 1.84 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised 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 valued at $69,346,000 after purchasing an additional 230,400 shares during the period. State Street Corp raised 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 valued at $41,434,000 after purchasing an additional 291,320 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 266,299 shares during the period. Aperio Group LLC raised its holdings in shares of 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 purchasing an additional 74,942 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of 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 purchasing an additional 35,857 shares during the period. 12.88% of the stock is currently owned by institutional investors.
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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