Dr. Reddy’s Laboratories (NYSE:RDY) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other research analysts have also issued reports about the company. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $11.79 on Friday. The business’s 50 day moving average price is $13.46 and its two-hundred day moving average price is $13.62. The company has a market cap of $9.84 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 2.37 and a beta of 0.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. Dr. Reddy’s Laboratories has a twelve month low of $11.36 and a twelve month high of $15.67.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data 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). Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The business had revenue of $850.26 million during the quarter, compared to the consensus estimate of $850.56 million. On average, analysts predict that Dr. Reddy’s Laboratories will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its position in Dr. Reddy’s Laboratories by 7.6% during the second quarter. Invesco Ltd. now owns 253,342 shares of the company’s stock worth $3,808,000 after acquiring an additional 17,907 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dr. Reddy’s Laboratories by 71.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares during the last quarter. First Trust Advisors LP grew its position in shares of Dr. Reddy’s Laboratories by 23.3% in the second quarter. First Trust Advisors LP now owns 65,652 shares of the company’s stock valued at $987,000 after purchasing an additional 12,390 shares during the last quarter. Sei Investments Co. increased its stake in shares of Dr. Reddy’s Laboratories by 37.3% during the second quarter. Sei Investments Co. now owns 124,136 shares of the company’s stock worth $1,866,000 after purchasing an additional 33,747 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Dr. Reddy’s Laboratories by 92.6% during the second quarter. Quantinno Capital Management LP now owns 235,044 shares of the company’s stock worth $3,533,000 after purchasing an additional 112,988 shares during the period. 3.85% of the stock is owned by institutional investors.

About Dr. Reddy’s Laboratories

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.