Dr. Reddy's Laboratories (NYSE:RDY) Trading Up 4.7% - Time to Buy?

Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Get Free Report) traded up 4.7% during mid-day trading on Thursday . The company traded as high as $15.33 and last traded at $15.24. 411,879 shares traded hands during trading, a decline of 62% from the average session volume of 1,071,964 shares. The stock had previously closed at $14.55.

Analyst Ratings Changes

A number of research firms recently issued reports on RDY. Nomura cut shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday. Barclays cut their target price on shares of 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. Finally, StockNews.com lowered shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, December 6th.

Dr. Reddy's Laboratories Price Performance

The company has a 50-day moving average of $14.81 and a 200 day moving average of $15.38. 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 stock has a market capitalization of $12.62 billion, a PE ratio of 24.15 and a beta of 0.53.

Hedge Funds Weigh In On Dr. Reddy's Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of RDY. Farther Finance Advisors LLC raised its holdings in Dr. Reddy's Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company's stock valued at $36,000 after acquiring an additional 137 shares during the last quarter. Augustine Asset Management Inc. lifted its position in Dr. Reddy's Laboratories by 0.4% during the second quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company's stock worth $3,857,000 after buying an additional 181 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its stake in Dr. Reddy's Laboratories by 3.1% during the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company's stock worth $470,000 after buying an additional 184 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Dr. Reddy's Laboratories by 6.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company's stock valued at $377,000 after buying an additional 316 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Dr. Reddy's Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company's stock worth $64,000 after acquiring an additional 322 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Company Profile

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.