Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $14.75, but opened at $15.34. Dr. Reddy's Laboratories shares last traded at $15.53, with a volume of 548,080 shares traded.
Wall Street Analysts Forecast Growth
RDY has been the topic of several recent research reports. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.44 to $16.90 in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $16.95.
Get Our Latest Stock Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Trading Up 0.1%
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's fifty day simple moving average is $13.86 and its 200-day simple moving average is $14.04. The stock has a market cap of $12.97 billion, a P/E ratio of 24.75 and a beta of 0.33.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. The firm had revenue of $996.17 million during the quarter, compared to analyst estimates of $83.70 billion. Equities research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Dr. Reddy's Laboratories by 403.1% in the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after acquiring an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Dr. Reddy's Laboratories by 382.9% during the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock worth $148,717,000 after acquiring an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd boosted its holdings in shares of Dr. Reddy's Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock worth $88,590,000 after buying an additional 4,523,303 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after buying an additional 4,301,212 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 397.2% in the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock worth $77,311,000 after buying an additional 3,911,404 shares during the last quarter. Institutional investors own 3.85% of the company's stock.
About Dr. Reddy's Laboratories
(
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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