Dr.Reddy’s Laboratories (NYSE:RDY) Upgraded to Buy at Citigroup

Dr.Reddy’s Laboratories (NYSE:RDY) was upgraded by analysts at Citigroup from a “sell” rating to a “buy” rating in a research report issued on Thursday, January 9th, MarketBeat Ratings reports.

A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Bank of America lowered shares of Dr.Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.50.

Dr.Reddy’s Laboratories stock traded down $0.26 during trading hours on Thursday, reaching $41.33. The stock had a trading volume of 465,906 shares, compared to its average volume of 113,772. The stock has a market cap of $6.89 billion, a PE ratio of 25.20 and a beta of 0.18. Dr.Reddy’s Laboratories has a 52 week low of $34.67 and a 52 week high of $42.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.96 and a quick ratio of 1.39. The company has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $38.55.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Friday, November 1st. The company reported $0.93 EPS for the quarter. Dr.Reddy’s Laboratories had a net margin of 16.20% and a return on equity of 18.44%. The firm had revenue of $680.00 million during the quarter. Research analysts predict that Dr.Reddy’s Laboratories will post 1.39 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. GW&K Investment Management LLC purchased a new stake in Dr.Reddy’s Laboratories during the third quarter valued at $34,000. Parallel Advisors LLC raised its stake in Dr.Reddy’s Laboratories by 41.5% during the third quarter. Parallel Advisors LLC now owns 1,808 shares of the company’s stock valued at $68,000 after purchasing an additional 530 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in Dr.Reddy’s Laboratories by 120.0% during the second quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the company’s stock valued at $82,000 after purchasing an additional 1,200 shares in the last quarter. Atria Investments LLC purchased a new stake in Dr.Reddy’s Laboratories during the second quarter valued at $171,000. Finally, Signaturefd LLC raised its stake in Dr.Reddy’s Laboratories by 31.7% during the third quarter. Signaturefd LLC now owns 5,082 shares of the company’s stock valued at $193,000 after purchasing an additional 1,223 shares in the last quarter. 12.66% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Dr.Reddy`s Laboratories (NYSE:RDY)

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