Dr. Reddy's Laboratories (NYSE:RDY - Free Report) had its price target decreased by Barclays from $17.40 to $17.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.
Separately, StockNews.com upgraded Dr. Reddy's Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Tuesday.
Check Out Our Latest Analysis on RDY
Dr. Reddy's Laboratories Stock Up 4.0 %
Shares of NYSE:RDY traded up $0.59 during midday trading on Wednesday, reaching $15.20. The company had a trading volume of 547,826 shares, compared to its average volume of 1,042,803. The stock has a market cap of $2.54 billion, a PE ratio of 3.83, a P/E/G ratio of 2.34 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories has a 1-year low of $12.90 and a 1-year high of $16.89. The business's 50 day moving average price is $15.77 and its 200 day moving average price is $15.34.
Hedge Funds Weigh In On Dr. Reddy's Laboratories
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company's stock worth $36,000 after acquiring an additional 137 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Dr. Reddy's Laboratories in the 3rd quarter valued at $60,000. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 322 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Dr. Reddy's Laboratories by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company's stock valued at $115,000 after purchasing an additional 657 shares during the period. Finally, Wealthstream Advisors Inc. bought a new position in Dr. Reddy's Laboratories in the second quarter worth approximately $203,000. 14.02% of the stock is owned by institutional investors and hedge funds.
About Dr. Reddy's Laboratories
(
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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.
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