Dr. Reddy’s Laboratories (NYSE:RDY) Rating Lowered to Sell at The Goldman Sachs Group

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report issued on Thursday, MarketBeat.com reports.

Separately, Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.90.

Dr. Reddy’s Laboratories Trading Up 5.7%

Shares of RDY stock traded up $0.74 during mid-day trading on Thursday, hitting $13.58. 6,227,324 shares of the company’s stock were exchanged, compared to its average volume of 2,117,257. The stock has a 50-day simple moving average of $13.86 and a two-hundred day simple moving average of $13.88. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 19.84 and a beta of 0.35. Dr. Reddy’s Laboratories has a fifty-two week low of $12.77 and a fifty-two week high of $16.17. The company has a quick ratio of 1.38, a current ratio of 1.88 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $969.81 million for the quarter, compared to analysts’ expectations of $963.84 million. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%. Equities analysts expect that Dr. Reddy’s Laboratories will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several large investors have recently added to or reduced their stakes in RDY. Morgan Stanley lifted its holdings in Dr. Reddy’s Laboratories by 41.2% during the fourth quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock valued at $125,322,000 after purchasing an additional 2,603,897 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Dr. Reddy’s Laboratories by 7.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock worth $182,921,000 after buying an additional 921,078 shares during the period. Aikya Investment Management Ltd boosted its stake in Dr. Reddy’s Laboratories by 9.3% during the fourth quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock worth $103,033,000 after buying an additional 623,518 shares during the period. Marshall Wace LLP boosted its stake in shares of Dr. Reddy’s Laboratories by 1,699.4% during the fourth quarter. Marshall Wace LLP now owns 516,256 shares of the company’s stock valued at $7,248,000 after purchasing an additional 487,565 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 51.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,168,562 shares of the company’s stock valued at $16,407,000 after purchasing an additional 398,537 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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.