Wall Street Zen Downgrades Dr. Reddy’s Laboratories (NYSE:RDY) to Sell

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

RDY has been the subject of several other reports. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock opened at $11.78 on Friday. The company has a 50 day moving average of $13.49 and a 200-day moving average of $13.63. Dr. Reddy’s Laboratories has a 1-year low of $11.36 and a 1-year high of $15.67. The company has a current ratio of 1.90, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a market cap of $9.83 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.17 and a beta of 0.25.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. As a group, equities research analysts forecast that Dr. Reddy’s Laboratories will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently added to or reduced their stakes in RDY. Invesco Ltd. raised its holdings in Dr. Reddy’s Laboratories by 7.6% in the 2nd quarter. Invesco Ltd. now owns 253,342 shares of the company’s stock valued at $3,808,000 after buying an additional 17,907 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after acquiring an additional 1,294 shares during the last quarter. First Trust Advisors LP grew its holdings in Dr. Reddy’s Laboratories by 23.3% during the 2nd quarter. First Trust Advisors LP now owns 65,652 shares of the company’s stock worth $987,000 after acquiring an additional 12,390 shares during the last quarter. Sei Investments Co. grew its holdings in Dr. Reddy’s Laboratories by 37.3% during the 2nd quarter. Sei Investments Co. now owns 124,136 shares of the company’s stock worth $1,866,000 after acquiring an additional 33,747 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Dr. Reddy’s Laboratories by 92.6% in the 2nd quarter. Quantinno Capital Management LP now owns 235,044 shares of the company’s stock valued at $3,533,000 after acquiring an additional 112,988 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.