Dr. Reddy’s Laboratories (NYSE:RDY) Lowered to Hold Rating by StockNews.com

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

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

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY traded up $0.12 during midday trading on Friday, reaching $14.59. The stock had a trading volume of 1,021,228 shares, compared to its average volume of 1,060,065. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 23.15 and a beta of 0.53. Dr. Reddy’s Laboratories has a 12-month low of $12.90 and a 12-month high of $16.89. The stock has a 50-day moving average of $15.02 and a 200-day moving average of $15.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently modified their holdings of RDY. Farther Finance Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 43.2% during the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after acquiring an additional 137 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Dr. Reddy’s Laboratories during the 3rd quarter valued at about $60,000. Van ECK Associates Corp grew its position in shares of Dr. Reddy’s Laboratories by 64.3% during the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Dr. Reddy’s Laboratories in the third quarter worth about $207,000. Institutional investors own 14.02% of the company’s stock.

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.