Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded 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 morning,Wall Street Zen reports.

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 analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Stock Down 0.2%

RDY stock opened at $12.15 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $12.83 and its 200 day moving average price is $13.37. Dr. Reddy’s Laboratories has a 52 week low of $11.36 and a 52 week high of $15.67. The company has a market cap of $10.14 billion, a P/E ratio of 27.61, 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 analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The company had revenue of $850.26 million during the quarter, compared to analysts’ expectations of $850.56 million. On average, research analysts expect that Dr. Reddy’s Laboratories will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in RDY. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Dr. Reddy’s Laboratories by 13.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock worth $89,000 after buying an additional 760 shares in the last quarter. EWA LLC increased its stake in shares of Dr. Reddy’s Laboratories by 7.0% during the 4th quarter. EWA LLC now owns 12,465 shares of the company’s stock valued at $175,000 after acquiring an additional 818 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the period. Stifel Financial Corp lifted its holdings in shares of Dr. Reddy’s Laboratories by 3.8% during the 4th quarter. Stifel Financial Corp now owns 23,464 shares of the company’s stock worth $329,000 after acquiring an additional 861 shares during the period. Finally, Groupama Asset Managment boosted its position in shares of Dr. Reddy’s Laboratories by 1.7% in the fourth quarter. Groupama Asset Managment now owns 55,419 shares of the company’s stock worth $778,000 after acquiring an additional 912 shares during the last quarter. 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.