Dr. Reddy’s Laboratories Ltd (NYSE:RDY) – Stock analysts at Jefferies Group decreased their FY2019 earnings estimates for shares of Dr. Reddy’s Laboratories in a research report issued to clients and investors on Thursday. Jefferies Group analyst P. Nahar now expects that the company will post earnings per share of $1.98 for the year, down from their prior estimate of $2.18. Jefferies Group also issued estimates for Dr. Reddy’s Laboratories’ FY2020 earnings at $2.29 EPS.

RDY has been the topic of several other reports. Zacks Investment Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, July 14th. Deutsche Bank AG upgraded Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, CLSA cut Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a report on Friday.

TRADEMARK VIOLATION WARNING: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/07/31/fy2019-eps-estimates-for-dr-reddys-laboratories-ltd-rdy-reduced-by-jefferies-group.html.

Dr. Reddy’s Laboratories (NYSE:RDY) traded down 1.90% on Monday, reaching $36.09. 80,889 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $41.36 and its 200 day moving average is $41.69. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 33.92 and a beta of 0.35. Dr. Reddy’s Laboratories has a 52 week low of $36.07 and a 52 week high of $50.10.

Hedge funds have recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. boosted its stake in Dr. Reddy’s Laboratories by 40.0% in the first quarter. Sumitomo Life Insurance Co. now owns 4,200 shares of the company’s stock valued at $169,000 after buying an additional 1,200 shares during the period. Bank of New York Mellon Corp purchased a new stake in Dr. Reddy’s Laboratories during the first quarter valued at $297,000. Alliancebernstein L.P. boosted its stake in Dr. Reddy’s Laboratories by 55.5% in the first quarter. Alliancebernstein L.P. now owns 7,808 shares of the company’s stock valued at $313,000 after buying an additional 2,787 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Dr. Reddy’s Laboratories by 41.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,800 shares of the company’s stock valued at $313,000 after buying an additional 2,300 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in Dr. Reddy’s Laboratories by 9.1% in the first quarter. Wetherby Asset Management Inc. now owns 8,487 shares of the company’s stock valued at $340,000 after buying an additional 711 shares during the period. Institutional investors own 15.18% of the company’s stock.

The company also recently declared a dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 17th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, July 13th. Dr. Reddy’s Laboratories’s dividend payout ratio (DPR) is currently 27.88%.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

Receive News & Ratings for Dr. Reddy's Laboratories Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr. Reddy's Laboratories Ltd and related companies with MarketBeat.com's FREE daily email newsletter.