Dr. Reddy's Laboratories Ltd (NYSE:RDY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $12.92 and traded as high as $12.94. Dr. Reddy's Laboratories shares last traded at $12.7650, with a volume of 3,738,869 shares traded.
Wall Street Analyst Weigh In
RDY has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Citigroup upgraded Dr. Reddy's Laboratories from a "sell" rating to a "buy" rating and raised their price target for the company from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. Weiss Ratings cut Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Finally, BNP Paribas Exane raised Dr. Reddy's Laboratories to an "outperform" rating and set a $14.80 price target for the company in a report on Monday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $732.40.
Get Our Latest Analysis on RDY
Dr. Reddy's Laboratories Stock Performance
The firm's fifty day moving average price is $12.24 and its 200-day moving average price is $12.92. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.66 and a beta of 0.29.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Dr. Reddy's Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The company had revenue of $850.26 million during the quarter, compared to analysts' expectations of $850.56 million. Analysts expect that Dr. Reddy's Laboratories Ltd will post 0.45 earnings per share for the current year.
Hedge Funds Weigh In On Dr. Reddy's Laboratories
Large investors have recently bought and sold shares of the stock. QRG Capital Management Inc. grew its stake in Dr. Reddy's Laboratories by 7.6% during the 2nd quarter. QRG Capital Management Inc. now owns 41,233 shares of the company's stock worth $597,000 after buying an additional 2,909 shares during the last quarter. Tidal Investments LLC increased its position in Dr. Reddy's Laboratories by 26.3% during the second quarter. Tidal Investments LLC now owns 12,971 shares of the company's stock worth $188,000 after buying an additional 2,699 shares during the period. Nykredit A S acquired a new position in Dr. Reddy's Laboratories during the second quarter worth approximately $1,610,000. Corient Private Wealth LP lifted its stake in Dr. Reddy's Laboratories by 16.6% in the second quarter. Corient Private Wealth LP now owns 209,792 shares of the company's stock valued at $3,040,000 after buying an additional 29,819 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in Dr. Reddy's Laboratories by 23.4% in the second quarter. HB Wealth Management LLC now owns 19,136 shares of the company's stock valued at $277,000 after buying an additional 3,624 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.
About Dr. Reddy's Laboratories
(
Get Free Report)
Dr. Reddy's Laboratories Limited is a multinational pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.
Its business includes generic pharmaceuticals, branded generics, over-the-counter products, active pharmaceutical ingredients and biosimilars. Dr. Reddy's portfolio spans therapeutic areas such as gastrointestinal, cardiovascular, diabetes, oncology, pain management, dermatology and central nervous system treatments.
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