Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report) 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 trading hands.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on RDY. Barclays cut their price objective on 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. Nomura downgraded Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded 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 Report on RDY
Dr. Reddy's Laboratories Trading Down 1.5 %
The business has a fifty day moving average price of $14.78 and a 200-day moving average price of $15.50. 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 company has a market cap of $12.89 billion, a P/E ratio of 24.66 and a beta of 0.53.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC bought a new position in shares of Dr. Reddy's Laboratories in the third quarter worth $3,459,000. Frank Rimerman Advisors LLC acquired a new position in shares of Dr. Reddy's Laboratories in the 2nd quarter valued at approximately $2,633,000. Caprock Group LLC acquired a new position in shares of Dr. Reddy's Laboratories in the 2nd quarter valued at approximately $997,000. Natixis Advisors LLC bought a new stake in shares of Dr. Reddy's Laboratories during the 2nd quarter worth approximately $777,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Dr. Reddy's Laboratories by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company's stock worth $76,455,000 after acquiring an additional 114,294 shares in the last quarter. 3.85% of the stock is owned by institutional investors.
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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