Barclays began coverage on shares of Dr.Reddy’s Laboratories (NYSE:RDY) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm issued an equal weight rating and a $39.00 target price on the stock.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Dr.Reddy’s Laboratories from a hold rating to a strong sell rating in a research report on Wednesday, May 22nd. TheStreet lowered Dr.Reddy’s Laboratories from a b rating to a c rating in a research report on Monday, May 20th. Finally, Morgan Stanley cut Dr.Reddy’s Laboratories from an overweight rating to an equal weight rating in a report on Monday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $41.50.

Shares of Dr.Reddy’s Laboratories stock opened at $37.94 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.36 and a current ratio of 1.92. The stock has a market cap of $6.25 billion, a PE ratio of 23.13 and a beta of 0.24. Dr.Reddy’s Laboratories has a 12 month low of $29.00 and a 12 month high of $42.82.

Dr.Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, May 17th. The company reported $0.38 EPS for the quarter. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $565.46 million. Dr.Reddy’s Laboratories had a return on equity of 13.85% and a net margin of 12.20%. Research analysts forecast that Dr.Reddy’s Laboratories will post 1.38 EPS for the current year.

A number of hedge funds have recently modified their holdings of RDY. O Shaughnessy Asset Management LLC purchased a new stake in Dr.Reddy’s Laboratories during the 4th quarter valued at about $34,000. Advisor Group Inc. boosted its holdings in Dr.Reddy’s Laboratories by 147.2% during the 4th quarter. Advisor Group Inc. now owns 979 shares of the company’s stock valued at $37,000 after acquiring an additional 583 shares during the period. Cornerstone Advisors Inc. boosted its holdings in Dr.Reddy’s Laboratories by 93.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock valued at $38,000 after acquiring an additional 458 shares during the period. NumerixS Investment Technologies Inc boosted its holdings in Dr.Reddy’s Laboratories by 150.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the company’s stock valued at $40,000 after acquiring an additional 600 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Dr.Reddy’s Laboratories by 172.1% during the 1st quarter. Parallel Advisors LLC now owns 1,045 shares of the company’s stock valued at $42,000 after acquiring an additional 661 shares during the period. Institutional investors own 12.76% of the company’s stock.

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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