Morgan Stanley upgraded shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts also recently weighed in on RDY. BidaskClub downgraded Dr. Reddy’s Laboratories from a hold rating to a sell rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Dr. Reddy’s Laboratories from a strong sell rating to a hold rating in a research report on Friday, July 14th. CLSA downgraded Dr. Reddy’s Laboratories from an underperform rating to a sell rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a sell rating and set a $31.62 target price on shares of Dr. Reddy’s Laboratories in a research report on Sunday, September 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Dr. Reddy’s Laboratories presently has a consensus rating of Hold and a consensus price target of $31.62.

Shares of Dr. Reddy’s Laboratories (RDY) traded down 0.08% on Thursday, reaching $37.69. The company had a trading volume of 243,371 shares. The company has a 50-day moving average price of $32.97 and a 200-day moving average price of $38.79. The firm has a market cap of $6.25 billion, a P/E ratio of 35.13 and a beta of 0.34. Dr. Reddy’s Laboratories has a one year low of $29.83 and a one year high of $50.10.

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Several institutional investors have recently made changes to their positions in RDY. Royal Bank of Canada grew its stake in shares of Dr. Reddy’s Laboratories by 34.8% during the second quarter. Royal Bank of Canada now owns 3,460,613 shares of the company’s stock worth $145,831,000 after purchasing an additional 893,138 shares during the period. First Trust Advisors LP grew its stake in shares of Dr. Reddy’s Laboratories by 101.6% during the second quarter. First Trust Advisors LP now owns 334,993 shares of the company’s stock worth $14,117,000 after purchasing an additional 168,851 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Dr. Reddy’s Laboratories by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 3,452,533 shares of the company’s stock worth $145,488,000 after purchasing an additional 168,818 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Dr. Reddy’s Laboratories during the first quarter worth $4,425,000. Finally, State Street Corp grew its stake in shares of Dr. Reddy’s Laboratories by 20.3% during the second quarter. State Street Corp now owns 629,903 shares of the company’s stock worth $26,545,000 after purchasing an additional 106,321 shares during the period. 15.29% of the stock is owned by institutional investors and hedge funds.

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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