Dr. Reddy's Laboratories' (RDY) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• Dr. Reddy's Laboratories' stock maintains a "Buy (B-)" rating from Weiss Ratings, reflecting optimism from equity analysts.
• Zacks Research recently upgraded the stock from a "strong sell" to a "hold" rating, with the overall average rating now categorized as "Moderate Buy."
• The company reported a quarterly EPS of $0.20, exceeding expectations, and has a market capitalization of $11.69 billion.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Price Performance

Shares of RDY stock traded down $0.03 on Wednesday, reaching $14.00. The company's stock had a trading volume of 874,727 shares, compared to its average volume of 967,861. The company has a market capitalization of $11.69 billion, a P/E ratio of 21.21, a PEG ratio of 5.67 and a beta of 0.40. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories has a 12-month low of $12.26 and a 12-month high of $16.17. The stock's 50 day simple moving average is $14.23 and its 200-day simple moving average is $14.27.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%.The firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. As a group, equities analysts predict that Dr. Reddy's Laboratories will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC grew its position in shares of Dr. Reddy's Laboratories by 3.8% during the 2nd quarter. Corient Private Wealth LLC now owns 121,767 shares of the company's stock valued at $1,830,000 after acquiring an additional 4,410 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 1,105.3% during the 2nd quarter. Osaic Holdings Inc. now owns 11,390 shares of the company's stock valued at $158,000 after buying an additional 10,445 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Dr. Reddy's Laboratories by 38.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 117,353 shares of the company's stock valued at $1,764,000 after buying an additional 32,664 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Dr. Reddy's Laboratories during the 2nd quarter valued at $441,000. Finally, Vident Advisory LLC lifted its stake in shares of Dr. Reddy's Laboratories by 18.3% during the 2nd quarter. Vident Advisory LLC now owns 189,269 shares of the company's stock valued at $2,845,000 after buying an additional 29,242 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

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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