ValuEngine upgraded shares of Dr.Reddy’s Laboratories (NYSE:RDY) from a sell rating to a hold rating in a research report released on Friday.
Separately, Zacks Investment Research upgraded shares of Dr.Reddy’s Laboratories from a hold rating to a strong-buy rating and set a $37.00 price target for the company in a report on Friday, August 17th.
NYSE:RDY traded up $0.58 during trading hours on Friday, reaching $33.17. The company’s stock had a trading volume of 363,125 shares, compared to its average volume of 369,583. The stock has a market capitalization of $5.74 billion, a PE ratio of 32.84 and a beta of 0.13. Dr.Reddy’s Laboratories has a one year low of $28.13 and a one year high of $39.96. The company has a current ratio of 1.64, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20.
A number of hedge funds have recently added to or reduced their stakes in RDY. Advisors Asset Management Inc. boosted its holdings in Dr.Reddy’s Laboratories by 29,814.7% during the second quarter. Advisors Asset Management Inc. now owns 863,638 shares of the company’s stock valued at $119,000 after acquiring an additional 860,751 shares during the period. NumerixS Investment Technologies Inc lifted its stake in shares of Dr.Reddy’s Laboratories by 115.0% in the second quarter. NumerixS Investment Technologies Inc now owns 4,300 shares of the company’s stock valued at $140,000 after buying an additional 2,300 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Dr.Reddy’s Laboratories in the first quarter valued at about $214,000. Capital Fund Management S.A. bought a new stake in shares of Dr.Reddy’s Laboratories in the second quarter valued at about $225,000. Finally, Natixis bought a new stake in shares of Dr.Reddy’s Laboratories in the first quarter valued at about $228,000. Institutional investors own 12.27% of the company’s stock.
Dr.Reddy’s Laboratories Company Profile
Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.
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