Dr. Reddy's Laboratories (NYSE:RDY) Stock Rating Upgraded by HSBC

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by research analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $16.90 price target on the stock, up from their previous price target of $14.44. HSBC's price objective suggests a potential upside of 8.75% from the company's current price.

Separately, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Dr. Reddy's Laboratories has a consensus rating of "Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Performance

Shares of RDY traded up $0.01 during trading hours on Thursday, hitting $15.54. The stock had a trading volume of 1,471,130 shares, compared to its average volume of 1,498,706. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm has a 50-day moving average price of $13.86 and a 200 day moving average price of $14.04. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 24.75 and a beta of 0.33. Dr. Reddy's Laboratories has a fifty-two week low of $12.26 and a fifty-two week high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $996.17 million during the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, research analysts anticipate that Dr. Reddy's Laboratories will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AIA Group Ltd increased its position in Dr. Reddy's Laboratories by 441.7% during the fourth quarter. AIA Group Ltd now owns 145,150 shares of the company's stock worth $2,292,000 after purchasing an additional 118,357 shares during the last quarter. Vanguard Group Inc. increased its position in Dr. Reddy's Laboratories by 397.2% during the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock worth $77,311,000 after purchasing an additional 3,911,404 shares during the last quarter. Van ECK Associates Corp increased its position in Dr. Reddy's Laboratories by 609.4% during the fourth quarter. Van ECK Associates Corp now owns 5,838 shares of the company's stock worth $92,000 after purchasing an additional 5,015 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Dr. Reddy's Laboratories by 400.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock worth $8,373,000 after purchasing an additional 427,573 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Dr. Reddy's Laboratories during the fourth quarter worth about $543,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

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.