Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Separately, Barclays cut their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Trading Down 0.5 %

NYSE RDY opened at $14.17 on Wednesday. Dr. Reddy’s Laboratories has a 52 week low of $12.90 and a 52 week high of $16.89. The firm has a 50 day moving average of $15.51 and a two-hundred day moving average of $15.35. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.83 billion, a PE ratio of 22.49 and a beta of 0.56.

Institutional Trading of Dr. Reddy’s Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in RDY. Farther Finance Advisors LLC lifted its stake in Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after buying an additional 137 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter valued at $60,000. Van ECK Associates Corp boosted its stake in Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after purchasing an additional 322 shares during the period. GAMMA Investing LLC boosted its stake in Dr. Reddy’s Laboratories by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares during the period. Finally, Wealthstream Advisors Inc. purchased a new position in Dr. Reddy’s Laboratories during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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.