Pharma stocks slip in trade; Dr.Reddy's top loser

Pharma stocks slip in trade; Dr.Reddy's top loser

Pharma stocks slip in trade; Dr.Reddy's top loser

Morgan Stanley raised its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY) by 4.4% during the first quarter, according to its most recent disclosure with the SEC. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 34.14 and a beta of 0.35.

DRL aims to introduce 10-15 new products this fiscal, of which it unveiled three last quarter.

The "disappointing" results hit the shares of the drug maker downwards by 3.29 per cent to Rs 2,621.45 apiece on BSE compared to previous close. The stock was the top percentage loser on the NSE index. "Our first quarter results of FY18 have been below expectations".

RDY has been the subject of several research analyst reports. "I think it was limited to the first quarter", Chakraborty said.

Separately, Deutsche Bank AG upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a report on Monday, May 15th. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Dr. Reddy's Laboratories by 41.8% in the first quarter. Alliancebernstein L.P. now owns 7,808 shares of the company's stock valued at $313,000 after buying an additional 2,787 shares during the period.

The company also recently declared a dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 17th were given a dividend of $0.29 per share. Two equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. Dr. Reddy's Laboratories's dividend payout ratio (DPR) is 26.61%. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of worldwide copyright & trademark laws. If you are accessing this story on another publication, it was copied illegally and republished in violation of US & worldwide trademark & copyright legislation. The company now has a consensus rating of "Hold" and an average target price of $41.90.

Dr Reddy's Laboratories is an integrated global pharmaceutical company.

The pharmaceutical posted revenue of $513 million in the period. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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