Jefferies Group LLC reissued their sell rating on shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in a research note published on Sunday. The brokerage currently has a $31.62 price target on the stock.

Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a strong sell rating to a hold rating in a report on Friday, July 14th. Deutsche Bank AG raised shares of Dr. Reddy’s Laboratories from a sell rating to a hold rating in a report on Monday, May 15th. CLSA raised shares of Dr. Reddy’s Laboratories from an underperform rating to an outperform rating in a report on Thursday, August 31st. Finally, BidaskClub lowered shares of Dr. Reddy’s Laboratories from a hold rating to a sell rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $31.62.

Shares of Dr. Reddy’s Laboratories (NYSE:RDY) opened at 33.85 on Friday. Dr. Reddy’s Laboratories has a 52 week low of $29.83 and a 52 week high of $50.10. The stock has a 50 day moving average of $34.77 and a 200-day moving average of $39.42. The stock has a market cap of $5.61 billion, a PE ratio of 31.75 and a beta of 0.34.

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The company also recently disclosed a None dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 17th were paid a dividend of $0.294 per share. The ex-dividend date of this dividend was Thursday, July 13th. Dr. Reddy’s Laboratories’s payout ratio is 27.88%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Dr. Reddy’s Laboratories by 0.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,160 shares of the company’s stock worth $582,000 after buying an additional 60 shares during the period. World Asset Management Inc boosted its stake in Dr. Reddy’s Laboratories by 0.9% during the first quarter. World Asset Management Inc now owns 10,345 shares of the company’s stock worth $415,000 after buying an additional 90 shares during the period. Comerica Bank boosted its stake in Dr. Reddy’s Laboratories by 1.0% during the first quarter. Comerica Bank now owns 9,898 shares of the company’s stock worth $403,000 after buying an additional 96 shares during the period. Saturna Capital CORP boosted its stake in Dr. Reddy’s Laboratories by 2.0% during the first quarter. Saturna Capital CORP now owns 18,150 shares of the company’s stock worth $729,000 after buying an additional 350 shares during the period. Finally, Hansberger Growth Investors LP boosted its stake in Dr. Reddy’s Laboratories by 0.5% during the first quarter. Hansberger Growth Investors LP now owns 69,322 shares of the company’s stock worth $2,783,000 after buying an additional 355 shares during the period. 15.30% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Company Profile

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).

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