Dr.Reddy’s Laboratories (NYSE:RDY) had its price objective lifted by Barclays from $45.00 to $53.00 in a research report sent to investors on Thursday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also weighed in on the company. Nomura Instinet restated a buy rating on shares of Dr.Reddy’s Laboratories in a report on Tuesday, April 21st. ValuEngine downgraded shares of Dr.Reddy’s Laboratories from a hold rating to a sell rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $53.00.

Shares of RDY traded up $0.88 during mid-day trading on Thursday, hitting $60.80. 170,706 shares of the company were exchanged, compared to its average volume of 169,792. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 25.33 and a beta of 0.49. Dr.Reddy’s Laboratories has a 1-year low of $33.33 and a 1-year high of $60.95. The company has a 50 day moving average of $53.41 and a 200-day moving average of $47.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.66.

Dr.Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Wednesday, July 29th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $585.00 million during the quarter. Dr.Reddy’s Laboratories had a return on equity of 18.88% and a net margin of 10.26%. Research analysts anticipate that Dr.Reddy’s Laboratories will post 1.93 earnings per share for the current fiscal year.

The business also recently disclosed an annual dividend, which was paid on Friday, July 10th. Investors of record on Friday, January 1st were given a dividend of $0.3304 per share. This is an increase from Dr.Reddy’s Laboratories’s previous annual dividend of $0.27. The ex-dividend date of this dividend was Friday, July 10th. This represents a yield of 0.5%. Dr.Reddy’s Laboratories’s dividend payout ratio (DPR) is presently 9.68%.

Large investors have recently modified their holdings of the business. CWM LLC increased its stake in shares of Dr.Reddy’s Laboratories by 1,719.4% in the 1st quarter. CWM LLC now owns 1,128 shares of the company’s stock worth $45,000 after acquiring an additional 1,066 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Dr.Reddy’s Laboratories in the first quarter valued at about $47,000. Cornerstone Advisors Inc. increased its position in Dr.Reddy’s Laboratories by 54.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the company’s stock worth $76,000 after purchasing an additional 669 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Dr.Reddy’s Laboratories by 19.0% during the first quarter. Banque Cantonale Vaudoise now owns 2,637 shares of the company’s stock worth $106,000 after purchasing an additional 421 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Dr.Reddy’s Laboratories by 2,539.6% in the 1st quarter. JPMorgan Chase & Co. now owns 4,329 shares of the company’s stock valued at $175,000 after purchasing an additional 4,165 shares during the last quarter. Institutional investors own 12.88% 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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Analyst Recommendations for Dr.Reddy`s Laboratories (NYSE:RDY)

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