Dr.Reddy’s Laboratories (NYSE:RDY) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Dr.Reddy’s Laboratories (NYSE:RDY) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.

A number of other research firms also recently issued reports on RDY. Macquarie raised Dr.Reddy’s Laboratories from a neutral rating to an outperform rating in a research report on Monday, July 1st. Zacks Investment Research raised Dr.Reddy’s Laboratories from a strong sell rating to a buy rating and set a $40.00 price target for the company in a research report on Friday, July 19th. Morgan Stanley downgraded Dr.Reddy’s Laboratories from an overweight rating to an equal weight rating in a research report on Monday, May 20th. Deutsche Bank initiated coverage on Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They set a hold rating for the company. Finally, Barclays initiated coverage on Dr.Reddy’s Laboratories in a research report on Tuesday, June 11th. They issued an equal weight rating and a $39.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Dr.Reddy’s Laboratories has an average rating of Hold and a consensus price target of $39.50.

RDY stock traded down $0.60 during trading on Thursday, reaching $35.98. 196,581 shares of the stock traded hands, compared to its average volume of 130,691. The firm’s 50 day simple moving average is $37.51. Dr.Reddy’s Laboratories has a 52-week low of $31.58 and a 52-week high of $42.82. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 21.94 and a beta of 0.21.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.18. Dr.Reddy’s Laboratories had a return on equity of 14.94% and a net margin of 13.44%. The firm had revenue of $558.00 million during the quarter. Equities research analysts anticipate that Dr.Reddy’s Laboratories will post 2.06 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Dr.Reddy’s Laboratories by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 17,517 shares of the company’s stock valued at $661,000 after acquiring an additional 944 shares during the last quarter. Advisor Group Inc. raised its stake in Dr.Reddy’s Laboratories by 147.2% during the fourth quarter. Advisor Group Inc. now owns 979 shares of the company’s stock worth $37,000 after buying an additional 583 shares during the last quarter. Northern Trust Corp raised its stake in Dr.Reddy’s Laboratories by 3.9% during the fourth quarter. Northern Trust Corp now owns 415,086 shares of the company’s stock worth $15,649,000 after buying an additional 15,395 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Dr.Reddy’s Laboratories by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 921,688 shares of the company’s stock worth $34,751,000 after buying an additional 3,272 shares during the last quarter. Finally, Barclays PLC raised its stake in Dr.Reddy’s Laboratories by 329.1% during the fourth quarter. Barclays PLC now owns 3,021 shares of the company’s stock worth $114,000 after buying an additional 2,317 shares during the last quarter. 12.77% of the stock is owned by institutional investors.

Dr.Reddy’s Laboratories Company Profile

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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Analyst Recommendations for Dr.Reddy`s Laboratories (NYSE:RDY)

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