Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded at HSBC

HSBC upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. They currently have $16.90 price objective on the stock, up from their previous price objective of $14.44.

Separately, Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.95.

Dr. Reddy’s Laboratories Price Performance

RDY opened at $15.54 on Thursday. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 24.75 and a beta of 0.33. Dr. Reddy’s Laboratories has a 1 year low of $12.26 and a 1 year high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $13.86 and a 200 day moving average price of $14.04.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Analysts forecast that Dr. Reddy’s Laboratories will post 0.8 EPS for the current fiscal year.

Institutional Trading of Dr. Reddy’s Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in RDY. Costello Asset Management INC acquired a new stake in shares of Dr. Reddy’s Laboratories in the first quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $29,000 after buying an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its position in shares of 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 worth $32,000 after buying an additional 1,600 shares during the last quarter. POM Investment Strategies LLC lifted its position 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 worth $36,000 after buying an additional 1,820 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position 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 worth $40,000 after buying an additional 2,093 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.