Dr. Reddy's Laboratories (NYSE:RDY) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Dr. Reddy’s Laboratories to “Hold” from “Sell,” while Weiss Ratings slightly downgraded its “Hold” assessment. The stock’s overall analyst consensus remains “Reduce,” with one Hold and one Sell rating.
• RDY was trading at $12.17, near the lower end of its 12-month range of $11.36–$15.67, with a market capitalization of approximately $10.16 billion. Shares were up 0.1% in the latest session.
• The company’s latest quarterly results missed expectations, reporting adjusted earnings of $0.06 per share versus the $0.09 consensus, while revenue of $850.26 million was roughly in line with forecasts.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings lowered shares of Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Dr. Reddy's Laboratories presently has an average rating of "Reduce".

Dr. Reddy's Laboratories Trading Up 0.1%

RDY opened at $12.17 on Friday. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.55 and a beta of 0.29. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. Dr. Reddy's Laboratories has a 12 month low of $11.36 and a 12 month high of $15.67. The stock has a fifty day moving average price of $12.86 and a 200-day moving average price of $13.39.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%.The company had revenue of $850.26 million for the quarter, compared to analysts' expectations of $850.56 million. As a group, equities research analysts anticipate that Dr. Reddy's Laboratories will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy's Laboratories

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Dr. Reddy's Laboratories by 4.6% during the 1st quarter. Royal Bank of Canada now owns 9,984,082 shares of the company's stock valued at $138,293,000 after purchasing an additional 434,805 shares during the last quarter. Morgan Stanley grew its stake in Dr. Reddy's Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company's stock worth $125,322,000 after buying an additional 2,603,897 shares during the last quarter. Aikya Investment Management Ltd increased its position in Dr. Reddy's Laboratories by 9.3% during the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company's stock valued at $103,033,000 after buying an additional 623,518 shares in the last quarter. BNP Paribas Financial Markets increased its position in Dr. Reddy's Laboratories by 3.7% during the 4th quarter. BNP Paribas Financial Markets now owns 4,152,566 shares of the company's stock valued at $58,302,000 after buying an additional 149,384 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Dr. Reddy's Laboratories by 28.4% in the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company's stock valued at $25,253,000 after buying an additional 403,219 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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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