Dr. Reddy's Laboratories (NYSE:RDY) Rating Lowered to Neutral at Nomura

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) was downgraded by research analysts at Nomura from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, Marketbeat reports.

Other equities analysts have also issued research reports about the stock. Barclays reduced their target price on shares of Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, December 6th.

Dr. Reddy's Laboratories Price Performance

RDY traded up $0.57 during midday trading on Thursday, hitting $15.12. The stock had a trading volume of 1,847,810 shares, compared to its average volume of 1,078,238. The company has a market cap of $12.62 billion, a P/E ratio of 24.15 and a beta of 0.53. Dr. Reddy's Laboratories has a 1 year low of $13.26 and a 1 year high of $16.89. The business has a fifty day moving average of $14.81 and a 200 day moving average of $15.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92.

Institutional Trading of Dr. Reddy's Laboratories

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew 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 purchasing an additional 65,606 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 114,294 shares during the period. State Street Corp grew its position in shares of Dr. Reddy's Laboratories by 1.9% in the 3rd quarter. State Street Corp now owns 909,905 shares of the company's stock worth $72,292,000 after buying an additional 16,641 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Dr. Reddy's Laboratories by 59.4% during the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company's stock valued at $39,034,000 after buying an additional 183,146 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of 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 valued at $32,530,000 after acquiring 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.