Barclays Issues Pessimistic Forecast for Dr. Reddy’s Laboratories (NYSE:RDY) Stock Price

Dr. Reddy’s Laboratories (NYSE:RDY) had its price objective decreased by stock analysts at Barclays from $17.40 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 12.66% from the stock’s previous close.

Separately, StockNews.com upgraded Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Dr. Reddy’s Laboratories Trading Down 0.7 %

Dr. Reddy’s Laboratories stock opened at $15.09 on Wednesday. Dr. Reddy’s Laboratories has a one year low of $12.90 and a one year high of $16.89. The company’s fifty day moving average price is $15.71 and its two-hundred day moving average price is $15.34. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 2.33 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Dr. Reddy’s Laboratories by 46.9% in the first quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company’s stock worth $7,574,000 after acquiring an additional 32,958 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 6.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,616 shares of the company’s stock worth $925,000 after purchasing an additional 726 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at about $537,000. AIA Group Ltd raised its position in shares of Dr. Reddy’s Laboratories by 10.9% during the first quarter. AIA Group Ltd now owns 12,409 shares of the company’s stock valued at $910,000 after buying an additional 1,220 shares during the last quarter. Finally, Significant Wealth Partners LLC bought a new stake in shares of Dr. Reddy’s Laboratories in the first quarter valued at about $501,000. 14.02% of the stock is owned by institutional investors.

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.