Dr. Reddy's Laboratories Ltd (NYSE:RDY) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Dr. Reddy's Laboratories has received an average rating of “Moderate Buy” from six analysts, with target price set around $16.95.
• Recent institutional investments have increased, including Osaic Holdings, which grew its stake by 1,105.3%.
• In its most recent earnings report, Dr. Reddy's exceeded expectations with an EPS of $0.20, compared to the anticipated $0.18.

Shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.95.

Several equities analysts have commented on RDY shares. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dr. Reddy's Laboratories in a research note on Saturday, September 27th.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its position in Dr. Reddy's Laboratories by 3.8% in the 2nd quarter. Corient Private Wealth LLC now owns 121,767 shares of the company's stock worth $1,830,000 after purchasing an additional 4,410 shares during the last quarter. Osaic Holdings Inc. grew its position in Dr. Reddy's Laboratories by 1,105.3% in the 2nd quarter. Osaic Holdings Inc. now owns 11,390 shares of the company's stock worth $158,000 after purchasing an additional 10,445 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in Dr. Reddy's Laboratories by 38.6% during the second quarter. Orion Porfolio Solutions LLC now owns 117,353 shares of the company's stock worth $1,764,000 after buying an additional 32,664 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in Dr. Reddy's Laboratories during the second quarter worth about $441,000. Finally, Vident Advisory LLC grew its position in Dr. Reddy's Laboratories by 18.3% during the second quarter. Vident Advisory LLC now owns 189,269 shares of the company's stock worth $2,845,000 after buying an additional 29,242 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Performance

Shares of RDY stock opened at $14.05 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. The firm has a market cap of $11.73 billion, a P/E ratio of 21.28, a PEG ratio of 5.69 and a beta of 0.40. Dr. Reddy's Laboratories has a fifty-two week low of $12.26 and a fifty-two week high of $16.17. The stock's 50-day moving average is $14.23 and its two-hundred day moving average is $14.27.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. Analysts predict that Dr. Reddy's Laboratories will post 0.8 earnings per share for the current fiscal year.

About Dr. Reddy's Laboratories

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's 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 dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.

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