Dr. Reddy's Laboratories (NYSE:RDY) Raised to "Buy" at HSBC

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was upgraded by equities research analysts at HSBC from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday. The firm presently has a $16.90 target price on the stock. HSBC's target price would indicate a potential upside of 14.50% from the company's current price.Teva Pharmaceuticals Stock: Unlock Value in This Generic Drug GemSeparately, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th.Check Out Our Latest Stock Analysis on RDYDr. Reddy's Laboratories Trading Up 0.7%2 overlooked stocks that crushed earnings but traded lower RDY opened at $14.76 on Thursday. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 23.50 and a beta of 0.33. The company's 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $14.02. Dr. Reddy's Laboratories has a 1-year low of $12.26 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $996.17 million for the quarter, compared to the consensus estimate of $83.70 billion. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Analysts expect that Dr. Reddy's Laboratories will post 0.8 EPS for the current fiscal year. Institutional Trading of Dr. Reddy's LaboratoriesDrugmaker GSK: Becoming a Healthier Value StockA number of institutional investors and hedge funds have recently added to or reduced their stakes in RDY. Costello Asset Management INC purchased a new position in shares of Dr. Reddy's Laboratories during the first quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in Dr. Reddy's Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after acquiring an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. POM Investment Strategies LLC boosted its holdings in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after acquiring an additional 1,820 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Dr. Reddy's Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after acquiring an additional 2,093 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock. About Dr. Reddy's Laboratories (Get Free Report)Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's 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 dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.Featured StoriesFive stocks we like better than Dr. Reddy's LaboratoriesWhat is a Dividend King? Alphabet Stock Analysis: What's Next—Bull or Bear Market?Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?3 Utilities Stocks With Big Earnings, Balanced RiskHow to Invest in Tech Stocks and Top Tech Stocks to ConsiderNVIDIA Regains Top Spot; FOMO Is Why It Will Continue to RiseThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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