Dr. Reddy’s Laboratories (NYSE:RDY) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Dr. Reddy’s Laboratories (NYSE:RDY) posted its quarterly earnings results on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03), Zacks reports. Dr. Reddy’s Laboratories had a net margin of 12.90% and a return on equity of 12.34%.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock traded down $0.93 during trading hours on Wednesday, hitting $11.63. 754,547 shares of the company’s stock traded hands, compared to its average volume of 2,300,608. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.89 and a beta of 0.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.80 and a quick ratio of 1.34. Dr. Reddy’s Laboratories has a 12-month low of $11.58 and a 12-month high of $15.67. The company has a fifty day simple moving average of $13.59 and a 200-day simple moving average of $13.68.

Analysts Set New Price Targets

A number of equities analysts recently commented on RDY shares. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Dr. Reddy’s Laboratories currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its holdings in Dr. Reddy’s Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock valued at $125,322,000 after buying an additional 2,603,897 shares in the last quarter. Creative Planning lifted its stake in Dr. Reddy’s Laboratories by 15.3% in the 3rd quarter. Creative Planning now owns 1,262,891 shares of the company’s stock worth $17,655,000 after purchasing an additional 167,959 shares in the last quarter. UBS Group AG boosted its holdings in Dr. Reddy’s Laboratories by 2.1% in the 3rd quarter. UBS Group AG now owns 1,232,280 shares of the company’s stock valued at $17,227,000 after purchasing an additional 25,437 shares during the period. Lazard Asset Management LLC raised its position in shares of Dr. Reddy’s Laboratories by 51.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,168,562 shares of the company’s stock worth $16,407,000 after buying an additional 398,537 shares in the last quarter. Finally, Caisse de depot et placement du Quebec boosted its stake in Dr. Reddy’s Laboratories by 19.7% during the fourth quarter. Caisse de depot et placement du Quebec now owns 677,700 shares of the company’s stock valued at $9,515,000 after buying an additional 111,500 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.