Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) shot up 1.8% during trading on Wednesday . The stock traded as high as $46.01 and last traded at $45.71, with a volume of 447,676 shares changing hands. The stock had previously closed at $44.92.

Several research firms have recently commented on RDY. Zacks Investment Research downgraded Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Goldman Sachs Group Inc. began coverage on Dr. Reddy’s Laboratories in a report on Monday, May 2nd. They set a “neutral” rating for the company. Jefferies Group downgraded Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $45.00 to $41.90 in a report on Wednesday, July 27th. Credit Suisse Group AG downgraded Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 26th. Finally, HSBC downgraded Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.45.

The stock’s 50-day moving average is $49.01 and its 200 day moving average is $46.36. The company has a market cap of $7.54 billion and a P/E ratio of 34.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.00 earnings per share for the quarter. The company earned $479 million during the quarter, compared to the consensus estimate of $557 million. Equities analysts forecast that Dr. Reddy’s Laboratories Ltd. will post $1.52 EPS for the current year.

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

Several institutional investors have made changes to their positions in the stock. Morgan Stanley increased its position in shares of Dr. Reddy’s Laboratories by 366.0% in the fourth quarter. Morgan Stanley now owns 308,997 shares of the company’s stock worth $14,303,000 after buying an additional 242,689 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of 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 worth $22,788,000 after buying an additional 245,913 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of 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 worth $2,023,000 after buying an additional 1,341 shares in 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).

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