Dr. Reddy's Laboratories (NYSE:RDY) Upgraded to Strong-Buy by StockNews.com

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

Several other brokerages have also recently commented on RDY. Barclays increased their price target on shares of Dr. Reddy's Laboratories from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, January 29th. Jefferies Financial Group cut shares of Dr. Reddy's Laboratories from a "buy" rating to an "underperform" rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $80.00.

Dr. Reddy's Laboratories Stock Up 1.2 %

Shares of Dr. Reddy's Laboratories stock traded up $0.85 during trading hours on Friday, hitting $73.73. 160,240 shares of the company's stock traded hands, compared to its average volume of 197,158. The stock has a 50 day simple moving average of $74.48 and a 200-day simple moving average of $69.84. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. The company has a market cap of $12.30 billion, a PE ratio of 19.45, a PEG ratio of 1.82 and a beta of 0.58. Dr. Reddy's Laboratories has a twelve month low of $53.12 and a twelve month high of $77.72.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.88 by $0.11. Dr. Reddy's Laboratories had a net margin of 19.26% and a return on equity of 20.97%. The business had revenue of $867.00 million for the quarter, compared to analysts' expectations of $827.81 million. Equities research analysts anticipate that Dr. Reddy's Laboratories will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dr. Reddy's Laboratories

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Dr. Reddy's Laboratories by 25.1% during the first quarter. BlackRock Inc. now owns 2,303,063 shares of the company's stock valued at $131,113,000 after buying an additional 462,799 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Dr. Reddy's Laboratories by 3.4% during the fourth quarter. Royal Bank of Canada now owns 2,219,807 shares of the company's stock valued at $154,454,000 after acquiring an additional 72,491 shares during the period. Renaissance Technologies LLC increased its stake in shares of Dr. Reddy's Laboratories by 0.6% during the first quarter. Renaissance Technologies LLC now owns 1,674,824 shares of the company's stock valued at $95,348,000 after acquiring an additional 10,100 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Dr. Reddy's Laboratories by 15.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company's stock valued at $111,882,000 after acquiring an additional 218,605 shares during the period. Finally, Aikya Investment Management Ltd acquired a new position in shares of Dr. Reddy's Laboratories during the fourth quarter valued at approximately $75,850,000. Institutional investors own 14.02% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.