Dr. Reddy’s Laboratories Ltd. (NYSE:RDY)’s share price shot up 2.8% during trading on Monday . The company traded as high as $44.86 and last traded at $44.86, with a volume of 210,947 shares traded. The stock had previously closed at $43.65.

A number of brokerages have recently commented on RDY. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. began coverage on shares of Dr. Reddy’s Laboratories in a research report on Monday, May 2nd. They set a “neutral” rating on the stock. HSBC lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research report on Wednesday, July 27th. Jefferies Group lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $45.00 to $41.90 in a research report on Wednesday, July 27th. Finally, Credit Suisse Group AG lowered shares of Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 26th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $51.45.

The stock’s 50-day moving average is $49.49 and its 200 day moving average is $46.19. The firm has a market cap of $7.59 billion and a P/E ratio of 33.94.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.00 earnings per share (EPS) for the quarter. The business had revenue of $479 million for the quarter, compared to analysts’ expectations of $557 million. On average, equities research analysts predict that Dr. Reddy’s Laboratories Ltd. will post $1.69 EPS for the current year.

The company also recently announced an annual dividend, which was paid on Monday, July 18th. Shareholders of record on Monday, July 18th were issued a $0.277 dividend. The ex-dividend date of this dividend was Thursday, July 14th.

A number of institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in Dr. Reddy’s Laboratories by 3.2% in the fourth quarter. Advisors Asset Management Inc. now owns 43,693 shares of the company’s stock valued at $2,023,000 after buying an additional 1,341 shares during the last quarter. Principal Financial Group Inc. raised its position in Dr. Reddy’s Laboratories by 99.8% in the fourth quarter. Principal Financial Group Inc. now owns 492,288 shares of the company’s stock valued at $22,788,000 after buying an additional 245,913 shares during the last quarter. Morgan Stanley raised its position in Dr. Reddy’s Laboratories by 366.0% in the fourth quarter. Morgan Stanley now owns 308,997 shares of the company’s stock valued at $14,303,000 after buying an additional 242,689 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Dr. Reddy’s Laboratories by 10.5% in the fourth quarter. OppenheimerFunds Inc. now owns 37,908 shares of the company’s stock valued at $1,755,000 after buying an additional 3,600 shares during the last quarter.

Dr. Reddy’s Laboratories Limited is an integrated global pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter (OTC) finished pharmaceutical products, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.