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

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

A number of other research analysts have also commented on RDY. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.44 to $16.90 in a report on Thursday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Up 0.5%

NYSE RDY traded up $0.09 on Thursday, reaching $15.64. The stock had a trading volume of 2,384,534 shares, compared to its average volume of 1,502,249. The business has a 50 day moving average price of $13.91 and a 200 day moving average price of $14.05. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories has a 1 year low of $12.26 and a 1 year high of $16.89. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 24.90 and a beta of 0.33.

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, beating analysts' consensus estimates of $0.20 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. The firm had revenue of $996.17 million for the quarter, compared to the consensus estimate of $83.70 billion. On average, analysts forecast that Dr. Reddy's Laboratories will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Costello Asset Management INC acquired a new position in Dr. Reddy's Laboratories in the first quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its stake in Dr. Reddy's Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after acquiring an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc grew its stake in Dr. Reddy's Laboratories by 400.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after acquiring an additional 1,600 shares during the period. POM Investment Strategies LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after purchasing an additional 2,093 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.