Dr. Reddy's Laboratories Ltd (NYSE:RDY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.95.
Several brokerages recently issued reports on RDY. Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th.
Check Out Our Latest Stock Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Trading Down 0.1%
NYSE RDY traded down $0.02 during trading hours on Friday, reaching $14.85. The company's stock had a trading volume of 176,465 shares, compared to its average volume of 1,730,515. The firm has a fifty day simple moving average of $14.33 and a 200-day simple moving average of $14.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. Dr. Reddy's Laboratories has a 52 week low of $12.26 and a 52 week high of $16.19. The stock has a market cap of $12.39 billion, a P/E ratio of 22.49, a P/E/G ratio of 5.95 and a beta of 0.32.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. Equities analysts forecast that Dr. Reddy's Laboratories will post 0.8 earnings per share for the current fiscal year.
Dr. Reddy's Laboratories Increases Dividend
The company also recently declared an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Thursday, July 10th were given a dividend of $0.0915 per share. This represents a yield of 62.4%. This is an increase from Dr. Reddy's Laboratories's previous annual dividend of $0.08. The ex-dividend date of this dividend was Friday, July 25th. Dr. Reddy's Laboratories's payout ratio is currently 10.61%.
Institutional Investors Weigh In On Dr. Reddy's Laboratories
Several institutional investors and hedge funds have recently made changes to their positions in RDY. Bank of America Corp DE lifted its stake in Dr. Reddy's Laboratories by 123.1% in the fourth quarter. Bank of America Corp DE now owns 1,916,425 shares of the company's stock valued at $30,260,000 after buying an additional 1,057,584 shares during the period. Cetera Investment Advisers lifted its position in shares of Dr. Reddy's Laboratories by 410.5% during the 4th quarter. Cetera Investment Advisers now owns 20,720 shares of the company's stock valued at $327,000 after acquiring an additional 16,661 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Dr. Reddy's Laboratories by 256.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 429,887 shares of the company's stock worth $6,788,000 after purchasing an additional 309,239 shares during the period. Deutsche Bank AG increased its stake in Dr. Reddy's Laboratories by 311.9% in the fourth quarter. Deutsche Bank AG now owns 171,602 shares of the company's stock valued at $2,710,000 after purchasing an additional 129,936 shares in the last quarter. Finally, Ethic Inc. raised its holdings in shares of Dr. Reddy's Laboratories by 422.2% during the fourth quarter. Ethic Inc. now owns 23,073 shares of the company's stock valued at $364,000 after purchasing an additional 18,655 shares during the period. Institutional investors own 3.85% of the company's stock.
Dr. Reddy's Laboratories Company Profile
(
Get Free Report)
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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