Dr. Reddy’s Laboratories (NYSE:RDY) Lifted to Hold at ValuEngine

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday, April 2nd.

Separately, Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Dr. Reddy’s Laboratories has a consensus rating of “Hold” and a consensus price target of $30.51.

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NYSE RDY opened at $32.48 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.50. The company has a market capitalization of $5,384.46, a price-to-earnings ratio of 29.26 and a beta of 0.28. Dr. Reddy’s Laboratories has a 1 year low of $29.83 and a 1 year high of $42.97.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Thursday, January 25th. The company reported $0.41 EPS for the quarter. Dr. Reddy’s Laboratories had a net margin of 6.95% and a return on equity of 8.79%. The company had revenue of $596.00 million for the quarter. research analysts forecast that Dr. Reddy’s Laboratories will post 1.07 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Dr. Reddy’s Laboratories by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 581,938 shares of the company’s stock valued at $20,769,000 after acquiring an additional 8,200 shares during the period. Mondrian Investment Partners LTD lifted its position in Dr. Reddy’s Laboratories by 32,335.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 356,786 shares of the company’s stock valued at $13,401,000 after acquiring an additional 355,686 shares during the period. JPMorgan Chase & Co. lifted its position in Dr. Reddy’s Laboratories by 22.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 297,276 shares of the company’s stock valued at $10,678,000 after acquiring an additional 54,214 shares during the period. Dalton Investments LLC raised its holdings in Dr. Reddy’s Laboratories by 10.6% in the fourth quarter. Dalton Investments LLC now owns 229,000 shares of the company’s stock worth $8,601,000 after buying an additional 22,000 shares during the last quarter. Finally, Hexavest Inc. raised its holdings in Dr. Reddy’s Laboratories by 153.4% in the fourth quarter. Hexavest Inc. now owns 187,579 shares of the company’s stock worth $7,045,000 after buying an additional 113,547 shares during the last quarter. 13.14% of the stock is owned by institutional investors.

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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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