Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

Separately, Barclays upped their price objective on Dr. Reddy’s Laboratories from $16.20 to $17.40 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $14.61 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. The business has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $15.34. The firm has a market capitalization of $2.44 billion, a PE ratio of 3.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. Dr. Reddy’s Laboratories has a 1 year low of $12.87 and a 1 year high of $16.89.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RDY. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Dr. Reddy’s Laboratories by 318.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after acquiring an additional 283,700 shares during the last quarter. Millennium Management LLC lifted its stake in Dr. Reddy’s Laboratories by 61.4% during the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock worth $25,333,000 after purchasing an additional 126,472 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Dr. Reddy’s Laboratories by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock worth $76,455,000 after purchasing an additional 114,294 shares in the last quarter. Jane Street Group LLC lifted its stake in Dr. Reddy’s Laboratories by 2,197.8% during the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock worth $8,301,000 after purchasing an additional 108,243 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Dr. Reddy’s Laboratories by 81.6% during the second quarter. National Bank of Canada FI now owns 184,120 shares of the company’s stock worth $13,884,000 after purchasing an additional 82,724 shares in the last quarter. 14.02% of the stock is currently owned by institutional investors and hedge funds.

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.