Dr. Reddy’s Laboratories (NYSE:RDY) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.49 and traded as high as $15.53. Dr. Reddy’s Laboratories shares last traded at $15.44, with a volume of 1,599,025 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RDY shares. Barclays reduced their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 24.66 and a beta of 0.53. The stock has a 50 day moving average price of $14.78 and a 200-day moving average price of $15.49.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 3.4% in the second quarter. Renaissance Technologies LLC now owns 1,995,495 shares of the company’s stock worth $152,037,000 after buying an additional 65,606 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Dr. Reddy’s Laboratories by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock worth $76,455,000 after purchasing an additional 114,294 shares in the last quarter. State Street Corp boosted its holdings in shares of Dr. Reddy’s Laboratories by 1.9% during the 3rd quarter. State Street Corp now owns 909,905 shares of the company’s stock worth $72,292,000 after purchasing an additional 16,641 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 59.4% in the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock valued at $39,034,000 after purchasing an additional 183,146 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Dr. Reddy’s Laboratories by 30.8% during the third quarter. BNP Paribas Financial Markets now owns 409,440 shares of the company’s stock worth $32,530,000 after buying an additional 96,339 shares in the last quarter. Hedge funds and other institutional investors own 3.85% 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.