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

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, Barclays decreased their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Trading Up 0.7 %

NYSE:RDY opened at $14.57 on Friday. 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 $15.02 and a 200 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 $12.16 billion, a price-to-earnings ratio of 23.28 and a beta of 0.53.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the third quarter worth $60,000. Van ECK Associates Corp increased its stake in shares of Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after acquiring an additional 322 shares during the period. GAMMA Investing LLC increased its stake in shares of Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after acquiring an additional 657 shares during the period. Finally, Glenmede Trust Co. NA acquired a new stake in Dr. Reddy’s Laboratories during the third quarter valued at $207,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

About Dr. Reddy’s Laboratories

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.