Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) rose 7.7% during trading on Friday . The stock traded as high as $35.93 and last traded at $34.67, with a volume of 1,009,853 shares. The stock had previously closed at $32.19.

RDY has been the subject of several recent research reports. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. CLSA raised shares of Dr. Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Thursday. BidaskClub downgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Deutsche Bank AG raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $31.62 target price on shares of Dr. Reddy’s Laboratories in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.62.

The company has a 50 day moving average of $35.18 and a 200-day moving average of $39.58. The firm has a market capitalization of $5.75 billion, a P/E ratio of 32.52 and a beta of 0.35.

The firm also recently disclosed a None dividend, which was paid on Thursday, August 10th. Stockholders of record on Monday, July 17th were issued a $0.294 dividend. The ex-dividend date was Thursday, July 13th. Dr. Reddy’s Laboratories’s dividend payout ratio (DPR) is presently 27.88%.

Several hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in Dr. Reddy’s Laboratories by 6.0% in the first quarter. Sei Investments Co. now owns 164,816 shares of the company’s stock worth $6,617,000 after buying an additional 9,400 shares during the period. Karp Capital Management Corp acquired a new stake in Dr. Reddy’s Laboratories during the first quarter worth about $5,893,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Dr. Reddy’s Laboratories by 41.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,800 shares of the company’s stock worth $313,000 after buying an additional 2,300 shares during the period. Oxford Asset Management increased its stake in Dr. Reddy’s Laboratories by 98.6% in the first quarter. Oxford Asset Management now owns 47,144 shares of the company’s stock worth $1,893,000 after buying an additional 23,409 shares during the period. Finally, US Bancorp DE increased its stake in Dr. Reddy’s Laboratories by 12.7% in the first quarter. US Bancorp DE now owns 84,723 shares of the company’s stock worth $3,402,000 after buying an additional 9,538 shares during the period. Institutional investors own 15.30% of the company’s stock.

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About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a 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. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).