Dr. Reddy's Laboratories (NYSE:RDY) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Dr. Reddy’s Laboratories from “sell” to “hold,” while analysts overall maintain a consensus “hold” rating with an average price target of $732.40.
• Shares opened at $13.04, near the middle of their 12-month range of $11.36 to $15.67; the company has a $10.89 billion market capitalization and modest leverage, with a debt-to-equity ratio of 0.03.
• Dr. Reddy’s quarterly EPS of $0.06 missed the $0.09 consensus estimate, while revenue of $850.26 million was roughly in line with forecasts. Institutional ownership stands at 3.85%.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on the company. Citigroup upgraded Dr. Reddy's Laboratories from a "sell" rating to a "buy" rating and upped their target price for the company from $1,040.00 to $1,450.00 in a research report on Tuesday, September 29th. Weiss Ratings downgraded Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Finally, BNP Paribas Exane upgraded Dr. Reddy's Laboratories to an "outperform" rating and set a $14.80 target price for the company in a report on Monday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Dr. Reddy's Laboratories presently has a consensus rating of "Hold" and an average price target of $732.40.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE RDY opened at $13.04 on Friday. The company has a market capitalization of $10.89 billion, a PE ratio of 29.65, a P/E/G ratio of 2.69 and a beta of 0.29. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. Dr. Reddy's Laboratories has a twelve month low of $11.36 and a twelve month high of $15.67. The firm has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $12.92.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Dr. Reddy's Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The firm had revenue of $850.26 million for the quarter, compared to the consensus estimate of $850.56 million. On average, sell-side analysts forecast that Dr. Reddy's Laboratories will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake in Dr. Reddy's Laboratories by 67.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company's stock valued at $29,000 after purchasing an additional 821 shares in the last quarter. Groupama Asset Managment boosted its position in shares of Dr. Reddy's Laboratories by 1.7% during the 4th quarter. Groupama Asset Managment now owns 55,419 shares of the company's stock worth $778,000 after purchasing an additional 912 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Dr. Reddy's Laboratories by 15.4% during the 2nd quarter. GAMMA Investing LLC now owns 14,922 shares of the company's stock worth $216,000 after purchasing an additional 1,991 shares in the last quarter. Assetmark Inc. boosted its position in shares of Dr. Reddy's Laboratories by 11.8% during the 1st quarter. Assetmark Inc. now owns 21,145 shares of the company's stock worth $293,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of Dr. Reddy's Laboratories by 15.6% in the 2nd quarter. Confluence Investment Management LLC now owns 17,910 shares of the company's stock valued at $260,000 after buying an additional 2,414 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Company Profile

Dr. Reddy's Laboratories Limited is a multinational pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic pharmaceuticals, branded generics, over-the-counter products, active pharmaceutical ingredients and biosimilars. Dr. Reddy's portfolio spans therapeutic areas such as gastrointestinal, cardiovascular, diabetes, oncology, pain management, dermatology and central nervous system treatments.

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