Dr. Reddy’s Laboratories (NYSE:RDY) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

Separately, Barclays cut their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Trading Down 1.4 %

RDY opened at $14.56 on Wednesday. Dr. Reddy’s Laboratories has a one year low of $12.90 and a one year high of $16.89. The stock has a market capitalization of $12.15 billion, a PE ratio of 23.26 and a beta of 0.56. The business’s 50 day moving average price is $15.58 and its 200 day moving average price is $15.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after buying an additional 137 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Dr. Reddy’s Laboratories in the third 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 valued at $64,000 after buying an additional 322 shares during the last quarter. GAMMA Investing LLC boosted its stake in Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after acquiring an additional 657 shares in the last quarter. Finally, Wealthstream Advisors Inc. acquired a new position in Dr. Reddy’s Laboratories in the second quarter valued at $203,000. Hedge funds and other institutional investors own 14.02% 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.