Barclays Raises Dr.Reddy’s Laboratories (NYSE:RDY) Price Target to $53.00

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

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

Shares of NYSE RDY traded up $0.88 during trading hours on Thursday, hitting $60.80. 170,706 shares of the company traded hands, compared to its average volume of 169,792. The company’s 50 day moving average price is $53.41 and its 200 day moving average price is $47.63. Dr.Reddy’s Laboratories has a 12 month low of $33.33 and a 12 month high of $60.95. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 25.33 and a beta of 0.49. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $585.00 million during the quarter. Dr.Reddy’s Laboratories had a net margin of 10.26% and a return on equity of 18.88%. Equities analysts anticipate that Dr.Reddy’s Laboratories will post 1.93 EPS for the current year.

The business also recently declared 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. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 10th. This is an increase from Dr.Reddy’s Laboratories’s previous annual dividend of $0.27. Dr.Reddy’s Laboratories’s payout ratio is currently 9.68%.

Large investors have recently made changes to their positions in the stock. CWM LLC raised its position in Dr.Reddy’s Laboratories by 1,719.4% during the 1st quarter. CWM LLC now owns 1,128 shares of the company’s stock valued at $45,000 after purchasing an additional 1,066 shares in the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Dr.Reddy’s Laboratories during the 1st quarter worth $47,000. Cornerstone Advisors Inc. grew its stake in Dr.Reddy’s Laboratories by 54.5% in the first quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the company’s stock valued at $76,000 after purchasing an additional 669 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in Dr.Reddy’s Laboratories by 19.0% in 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 in the last quarter. Finally, Fulton Bank N. A. bought a new position in Dr.Reddy’s Laboratories in the second quarter worth about $205,000. 12.88% of the stock is currently owned by institutional investors.

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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