Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $15.57, but opened at $15.91. Dr. Reddy's Laboratories shares last traded at $16.00, with a volume of 161,061 shares changing hands.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on RDY shares. Barclays decreased 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. Nomura downgraded Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday, December 19th. Finally, StockNews.com cut shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a report on Friday, December 6th.
View Our Latest Stock Analysis on RDY
Dr. Reddy's Laboratories Stock Performance
The company has a fifty day moving average of $14.78 and a two-hundred day moving average of $15.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 25.34 and a beta of 0.53.
Institutional Investors Weigh In On Dr. Reddy's Laboratories
Several hedge funds have recently added to or reduced their stakes in RDY. Farther Finance Advisors LLC lifted its holdings 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 worth $36,000 after buying an additional 137 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Dr. Reddy's Laboratories in the third quarter worth approximately $60,000. Van ECK Associates Corp boosted 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 valued at $64,000 after acquiring an additional 322 shares during the last quarter. GAMMA Investing LLC increased its position 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 valued at $115,000 after purchasing an additional 657 shares during the period. Finally, Glenmede Trust Co. NA bought a new position in Dr. Reddy's Laboratories during the 3rd quarter worth approximately $207,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.
About Dr. Reddy's Laboratories
(
Get Free Report)
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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