Dr.Reddy’s Laboratories (NYSE:RDY) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Dr.Reddy’s Laboratories (NYSE:RDY) from a hold rating to a strong sell rating in a report released on Tuesday, May 29th.

According to Zacks, “Dr. Reddy’s top and bottom line suffered a year-over-year decline in fourth-quarter fiscal 2018 primarily due to continuing headwinds in the U.S.  markets and a temporary drop in sales in Russia in the fourth quarter as a result of the shift in thechannel purchasing pattern. Going forward, the company plans to continue to work diligently on resolving pending regulatory issues. The company’s shares have underperformed the industry year to date. However, the company will also focus on accelerating new products to market and improving its approval process.Dr. Reddy’s is undertaking some strategic measures to combat the challenges. The company also enjoys a strong position in the generics market.”

Separately, ValuEngine cut shares of Dr.Reddy’s Laboratories from a hold rating to a sell rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $30.51.

Dr.Reddy’s Laboratories stock traded down $0.31 during trading hours on Tuesday, hitting $33.02. 554,000 shares of the company traded hands, compared to its average volume of 407,725. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 32.76 and a beta of 0.22. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. Dr.Reddy’s Laboratories has a 1-year low of $28.13 and a 1-year high of $42.97.

Dr.Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Tuesday, May 22nd. The company reported $0.28 EPS for the quarter. The firm had revenue of $549.32 million for the quarter. Dr.Reddy’s Laboratories had a net margin of 6.90% and a return on equity of 8.69%. research analysts expect that Dr.Reddy’s Laboratories will post 1.39 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in RDY. Dynamic Technology Lab Private Ltd acquired a new position in shares of Dr.Reddy’s Laboratories in the first quarter worth about $214,000. Natixis acquired a new position in shares of Dr.Reddy’s Laboratories in the first quarter worth about $228,000. Banco de Sabadell S.A acquired a new position in shares of Dr.Reddy’s Laboratories in the first quarter worth about $549,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Dr.Reddy’s Laboratories in the fourth quarter worth about $621,000. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Dr.Reddy’s Laboratories by 53.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 24,969 shares of the company’s stock worth $816,000 after buying an additional 8,687 shares during the period. Institutional investors own 13.18% of the company’s stock.

About Dr.Reddy’s Laboratories

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.

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