Shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $53.00.
Several analysts recently commented on the company. ValuEngine cut Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Nomura Instinet reaffirmed a “buy” rating on shares of Dr.Reddy’s Laboratories in a research note on Tuesday, April 21st. Finally, Barclays lifted their target price on shares of Dr.Reddy’s Laboratories from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday.
NYSE RDY opened at $60.80 on Tuesday. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 25.33 and a beta of 0.49. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 0.04. Dr.Reddy’s Laboratories has a twelve month low of $33.33 and a twelve month high of $60.95. The stock has a fifty day simple moving average of $53.41 and a 200 day simple moving average of $47.63.
Dr.Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $585.00 million for the quarter. Dr.Reddy’s Laboratories had a return on equity of 18.88% and a net margin of 10.26%. Research analysts expect that Dr.Reddy’s Laboratories will post 1.93 earnings per share for the current fiscal year.
The firm also recently announced an annual dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, January 1st were issued a $0.3304 dividend. This is an increase from Dr.Reddy’s Laboratories’s previous annual dividend of $0.27. This represents a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 10th. Dr.Reddy’s Laboratories’s payout ratio is presently 9.68%.
Institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Dr.Reddy’s Laboratories by 39.6% during the 1st quarter. State Street Corp now owns 1,027,386 shares of the company’s stock worth $41,434,000 after buying an additional 291,320 shares during the period. Schroder Investment Management Group grew its holdings in Dr.Reddy’s Laboratories by 120.4% in the first quarter. Schroder Investment Management Group now owns 529,099 shares of the company’s stock worth $22,402,000 after purchasing an additional 289,002 shares during the period. Citigroup Inc. increased its stake in Dr.Reddy’s Laboratories by 4,752.0% in the first quarter. Citigroup Inc. now owns 229,304 shares of the company’s stock valued at $9,248,000 after purchasing an additional 224,578 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Dr.Reddy’s Laboratories by 187.9% during the first quarter. Wells Fargo & Company MN now owns 151,134 shares of the company’s stock valued at $6,095,000 after purchasing an additional 98,646 shares during the period. Finally, Aperio Group LLC boosted its position in shares of Dr.Reddy’s Laboratories by 10.1% during the 1st quarter. Aperio Group LLC now owns 818,713 shares of the company’s stock worth $33,019,000 after purchasing an additional 74,942 shares in the last quarter. Hedge funds and other institutional investors own 12.88% of the company’s stock.
About Dr.Reddy’s Laboratories
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.
Featured Article: Mutual funds are not immune from market timing
Receive News & Ratings for Dr.Reddy's Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr.Reddy's Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.