Dr. Reddy's Laboratories Ltd (NYSE:RDY) Stock Has Consensus Target Price of $492.90

Key Points

• Analysts have a consensus “Hold” rating on Dr. Reddy’s Laboratories, with two buy, two hold and one sell recommendation. The average 12-month price target is $492.90, though recently reported targets varied significantly.
• RDY shares traded near $13.20, within a 52-week range of $11.36 to $15.67. The company has a market capitalization of about $11.02 billion and relatively low leverage, with a debt-to-equity ratio of 0.03.
• Dr. Reddy’s exceeded quarterly expectations, reporting $0.12 in earnings per share versus the $0.10 consensus and revenue of $903.89 million versus estimates of $894.94 million.

Dr. Reddy's Laboratories Ltd (NYSE:RDY - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $492.90.

A number of equities analysts recently weighed in on RDY shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Dr. Reddy's Laboratories in a research note on Wednesday. Citigroup upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "buy" rating and boosted their target price for the company from $1,040.00 to $1,450.00 in a report on Tuesday, September 29th. BNP Paribas Exane raised shares of Dr. Reddy's Laboratories to an "outperform" rating and set a $14.80 price objective on the stock in a report on Monday, October 12th. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, October 17th. Finally, Jefferies Financial Group upgraded Dr. Reddy's Laboratories to a "hold" rating and set a $13.90 target price for the company in a research note on Sunday.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE RDY traded down $0.03 during mid-day trading on Friday, reaching $13.20. The company had a trading volume of 3,909,240 shares, compared to its average volume of 3,228,858. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90. Dr. Reddy's Laboratories has a one year low of $11.36 and a one year high of $15.67. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.75 and a beta of 0.29. The business's 50-day simple moving average is $12.35 and its 200 day simple moving average is $12.91.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Friday, October 23rd. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $903.89 million for the quarter, compared to analysts' expectations of $894.94 million. Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%. On average, research analysts predict that Dr. Reddy's Laboratories will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

A number of large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of Dr. Reddy's Laboratories by 59.6% during the third quarter. Quadrant Capital Group LLC now owns 178,558 shares of the company's stock valued at $2,280,000 after acquiring an additional 66,697 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of Dr. Reddy's Laboratories by 93.6% in the third quarter. Frank Rimerman Advisors LLC now owns 126,709 shares of the company's stock worth $1,599,000 after purchasing an additional 61,274 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Dr. Reddy's Laboratories by 7.6% in the second quarter. QRG Capital Management Inc. now owns 41,233 shares of the company's stock worth $597,000 after purchasing an additional 2,909 shares during the last quarter. Tidal Investments LLC increased its holdings in Dr. Reddy's Laboratories by 26.3% during the 2nd quarter. Tidal Investments LLC now owns 12,971 shares of the company's stock valued at $188,000 after purchasing an additional 2,699 shares during the period. Finally, Nykredit A S purchased a new position in Dr. Reddy's Laboratories during the 2nd quarter valued at about $1,610,000. Institutional investors own 3.85% of the company's stock.

About Dr. Reddy's Laboratories

Dr. Reddy's Laboratories Limited is a global 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 prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy's offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.

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