Dr. Reddy’s Laboratories (NYSE:RDY) Cut to Buy at StockNews.com

StockNews.com cut shares of Dr. Reddy’s Laboratories (NYSE:RDYFree Report) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

Separately, Barclays lifted their price target on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an overweight rating in a research note on Wednesday, May 8th.

View Our Latest Report on RDY

Dr. Reddy’s Laboratories Price Performance

Shares of RDY opened at $68.26 on Thursday. The company has a 50 day moving average of $72.78 and a 200-day moving average of $71.03. The company has a quick ratio of 1.92, a current ratio of 2.58 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.39 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.53 and a beta of 0.57. Dr. Reddy’s Laboratories has a twelve month low of $53.12 and a twelve month high of $77.72.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in RDY. Jane Street Group LLC grew its position in shares of Dr. Reddy’s Laboratories by 2,197.8% in the 1st quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock valued at $8,301,000 after acquiring an additional 108,243 shares during the period. OLD Mission Capital LLC grew its holdings in Dr. Reddy’s Laboratories by 66.2% during the first quarter. OLD Mission Capital LLC now owns 47,537 shares of the company’s stock worth $3,487,000 after purchasing an additional 18,930 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Dr. Reddy’s Laboratories during the first quarter worth approximately $6,543,000. Bessemer Group Inc. bought a new stake in Dr. Reddy’s Laboratories in the first quarter valued at approximately $5,764,000. Finally, Promethos Capital LLC lifted its position in shares of Dr. Reddy’s Laboratories by 9.0% in the first quarter. Promethos Capital LLC now owns 117,684 shares of the company’s stock valued at $8,632,000 after buying an additional 9,677 shares during the last quarter. 14.02% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Company Profile

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Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.

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