Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report) 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.
Analysts Set New Price Targets
Several research firms recently commented on RDY. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the company from $14.44 to $16.90 in a research note on Thursday. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $16.95.
Read Our Latest Stock Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Trading Up 0.1%
The firm's 50-day simple moving average is $13.86 and its 200-day simple moving average is $14.04. The firm has a market capitalization of $12.97 billion, a PE ratio of 24.75 and a beta of 0.33. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $996.17 million for the quarter, compared to the consensus estimate of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. Equities analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.
Institutional Trading of Dr. Reddy's Laboratories
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after acquiring an additional 8,042,163 shares during the period. Renaissance Technologies LLC increased its position in Dr. Reddy's Laboratories by 382.9% in the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock worth $148,717,000 after buying an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd lifted its position in shares of Dr. Reddy's Laboratories by 416.1% during the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after buying an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Dr. Reddy's Laboratories by 405.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after acquiring an additional 4,301,212 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Dr. Reddy's Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after acquiring an additional 3,911,404 shares during the period. Hedge funds and other 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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