Dr. Reddy's Laboratories (NYSE:RDY) Upgraded by Hsbc Global Res to "Strong-Buy" Rating

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by equities researchers at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on RDY. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the company from $14.44 to $16.90 in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Dr. Reddy's Laboratories has a consensus rating of "Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Performance

NYSE RDY opened at $15.52 on Thursday. The firm has a market capitalization of $12.95 billion, a P/E ratio of 24.71 and a beta of 0.33. Dr. Reddy's Laboratories has a 1-year low of $12.26 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The business's 50-day simple moving average is $13.82 and its 200-day simple moving average is $14.03.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly 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 firm had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Equities analysts predict that Dr. Reddy's Laboratories will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

A number of institutional investors have recently made changes to their positions in RDY. Allworth Financial LP grew its stake in Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after buying an additional 776 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Dr. Reddy's Laboratories by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after purchasing an additional 831 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Dr. Reddy's Laboratories by 2.8% in the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock worth $446,000 after purchasing an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Dr. Reddy's Laboratories by 6.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock worth $183,000 after purchasing an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Dr. Reddy's Laboratories by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock worth $524,000 after purchasing an additional 1,099 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy's Laboratories Company Profile

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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