Dr.Reddy’s Laboratories Ltd (NYSE:RDY) has received an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $53.00.
RDY has been the topic of several analyst reports. Barclays boosted their price target on shares of Dr.Reddy’s Laboratories from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday. ValuEngine lowered Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Nomura Instinet restated a “buy” rating on shares of Dr.Reddy’s Laboratories in a research note on Tuesday, April 21st.
A number of large investors have recently modified their holdings of the stock. CWM LLC increased its position in Dr.Reddy’s Laboratories by 1,719.4% during the first quarter. CWM LLC now owns 1,128 shares of the company’s stock worth $45,000 after buying an additional 1,066 shares during the last quarter. Bartlett & Co. LLC acquired a new position in shares of Dr.Reddy’s Laboratories during the 1st quarter worth approximately $47,000. Cornerstone Advisors Inc. raised its stake in Dr.Reddy’s Laboratories by 54.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the company’s stock valued at $76,000 after acquiring an additional 669 shares during the period. Banque Cantonale Vaudoise raised its stake in Dr.Reddy’s Laboratories by 19.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,637 shares of the company’s stock valued at $106,000 after acquiring an additional 421 shares during the period. Finally, Fulton Bank N. A. acquired a new stake in Dr.Reddy’s Laboratories during the 2nd quarter valued at $205,000. Institutional investors and hedge funds own 12.88% of the company’s stock.
Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. Dr.Reddy’s Laboratories had a net margin of 10.26% and a return on equity of 18.88%. The company had revenue of $585.00 million for the quarter. On average, equities research analysts forecast that Dr.Reddy’s Laboratories will post 1.93 EPS for the current year.
The company also recently disclosed an annual dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, January 1st were paid a dividend of $0.3304 per share. The ex-dividend date of this dividend was Friday, July 10th. This is a positive change from Dr.Reddy’s Laboratories’s previous annual dividend of $0.27. This represents a dividend yield of 0.5%. Dr.Reddy’s Laboratories’s payout ratio is currently 9.68%.
About Dr.Reddy’s Laboratories
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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