Dr. Reddy’s Laboratories (NYSE:RDY) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a sell rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Price Performance

RDY opened at $12.17 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90. The company’s 50-day simple moving average is $12.86 and its two-hundred day simple moving average is $13.39. Dr. Reddy’s Laboratories has a 52-week low of $11.36 and a 52-week high of $15.67. The stock has a market capitalization of $10.16 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.55 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%.The company had revenue of $850.26 million during the quarter, compared to analysts’ expectations of $850.56 million. As a group, analysts predict that Dr. Reddy’s Laboratories will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP lifted its stake in shares of Dr. Reddy’s Laboratories by 16.6% in the 2nd quarter. Corient Private Wealth LP now owns 209,792 shares of the company’s stock worth $3,040,000 after purchasing an additional 29,819 shares during the period. HB Wealth Management LLC boosted its holdings in shares of 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 worth $277,000 after buying an additional 3,624 shares during the last quarter. XY Capital Ltd bought a new stake in Dr. Reddy’s Laboratories during the second quarter valued at approximately $501,000. MW Advisory LLC bought a new stake in Dr. Reddy’s Laboratories during the second quarter valued at approximately $268,000. Finally, Nykredit A S purchased a new stake in Dr. Reddy’s Laboratories during the second quarter valued at approximately $2,000,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.