Jefferies Financial Group Comments on Dr.Reddy’s Laboratories Ltd’s FY2022 Earnings (NYSE:RDY)

Dr.Reddy’s Laboratories Ltd (NYSE:RDY) – Analysts at Jefferies Financial Group increased their FY2022 earnings per share (EPS) estimates for Dr.Reddy’s Laboratories in a research note issued on Monday, July 29th. Jefferies Financial Group analyst P. Nahar now forecasts that the company will earn $2.39 per share for the year, up from their previous forecast of $2.22.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The company had revenue of $558.00 million for the quarter. Dr.Reddy’s Laboratories had a net margin of 12.20% and a return on equity of 13.85%.

Other equities research analysts have also recently issued reports about the stock. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. TheStreet lowered Tribune Publishing from a “c-” rating to a “d+” rating in a report on Monday, May 20th. Morgan Stanley upped their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Deutsche Bank restated a “buy” rating and issued a GBX 2,450 ($32.01) target price on shares of in a research note on Thursday, June 20th. Finally, Macquarie upgraded Dr.Reddy’s Laboratories from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Dr.Reddy’s Laboratories presently has an average rating of “Hold” and an average price target of $39.50.

Shares of RDY opened at $37.10 on Wednesday. Dr.Reddy’s Laboratories has a 1 year low of $30.56 and a 1 year high of $42.82. The company’s fifty day moving average price is $37.58. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $6.48 billion, a P/E ratio of 22.62 and a beta of 0.20.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its holdings in Dr.Reddy’s Laboratories by 27.5% in the 2nd quarter. Aperio Group LLC now owns 501,664 shares of the company’s stock worth $18,797,000 after buying an additional 108,284 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Dr.Reddy’s Laboratories by 0.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 86,366 shares of the company’s stock valued at $3,236,000 after buying an additional 419 shares in the last quarter. First Trust Advisors LP raised its position in Dr.Reddy’s Laboratories by 28.5% in the 2nd quarter. First Trust Advisors LP now owns 168,620 shares of the company’s stock worth $6,318,000 after purchasing an additional 37,403 shares during the period. Boston Common Asset Management LLC raised its position in Dr.Reddy’s Laboratories by 8.4% in the 2nd quarter. Boston Common Asset Management LLC now owns 15,600 shares of the company’s stock worth $585,000 after purchasing an additional 1,210 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in Dr.Reddy’s Laboratories by 3.6% in the 2nd quarter. Wetherby Asset Management Inc. now owns 14,904 shares of the company’s stock worth $559,000 after purchasing an additional 522 shares during the period. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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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Earnings History and Estimates for Dr.Reddy`s Laboratories (NYSE:RDY)

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