Dr. Reddy’s Laboratories (NYSE:RDY) Downgraded to “Neutral” Rating by Nomura

Nomura lowered shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports.

A number of other analysts also recently commented on the stock. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. 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 research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY stock opened at $15.55 on Thursday. Dr. Reddy’s Laboratories has a 52-week low of $13.31 and a 52-week high of $16.89. The stock’s 50-day moving average price is $14.81 and its 200 day moving average price is $15.38. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $12.98 billion, a PE ratio of 24.84 and a beta of 0.53.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories during the 3rd quarter worth about $490,000. World Investment Advisors LLC acquired a new stake in Dr. Reddy’s Laboratories in the third quarter valued at approximately $3,459,000. Virtu Financial LLC acquired a new stake in Dr. Reddy’s Laboratories during the 3rd quarter valued at $276,000. Geode Capital Management LLC lifted its holdings in Dr. Reddy’s Laboratories by 109.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,254 shares of the company’s stock worth $1,053,000 after buying an additional 6,920 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Dr. Reddy’s Laboratories in the third quarter valued at about $464,000. Hedge funds and other institutional investors own 3.85% 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.