Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded at StockNews.com

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

Separately, Barclays increased their price objective on shares of 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 Trading Down 0.7 %

Dr. Reddy’s Laboratories stock opened at $15.09 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 firm’s 50 day moving average price is $15.71 and its 200-day moving average price is $15.34. Dr. Reddy’s Laboratories has a 1 year low of $12.90 and a 1 year high of $16.89. The stock has a market cap of $12.60 billion, a P/E ratio of 19.60, a PEG ratio of 2.33 and a beta of 0.56.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position 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 worth $36,000 after buying an additional 137 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock worth $603,000 after purchasing an additional 180 shares during the period. Augustine Asset Management Inc. grew its holdings in Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock valued at $3,857,000 after purchasing an additional 181 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its position in Dr. Reddy’s Laboratories by 3.1% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after purchasing an additional 184 shares during the period. Finally, CWM LLC lifted its stake in Dr. Reddy’s Laboratories by 10.5% in the second quarter. CWM LLC now owns 2,855 shares of the company’s stock worth $218,000 after purchasing an additional 271 shares during the last quarter. 14.02% of the stock is owned by 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.