Dr. Reddy’s Laboratories (NYSE:RDY) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.

Separately, Barclays raised their price target on Dr. Reddy’s Laboratories from $16.20 to $17.40 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Performance

NYSE RDY opened at $15.11 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a 52-week low of $12.90 and a 52-week high of $16.89. The business’s 50-day moving average price is $15.68 and its 200 day moving average price is $15.35. The firm has a market cap of $12.61 billion, a P/E ratio of 19.62, a P/E/G ratio of 2.33 and a beta of 0.56.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

A number of hedge funds have recently added to or reduced their stakes in RDY. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Dr. Reddy’s Laboratories by 318.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after purchasing an additional 283,700 shares during the period. Millennium Management LLC lifted its position in Dr. Reddy’s Laboratories by 61.4% in the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock valued at $25,333,000 after purchasing an additional 126,472 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Dr. Reddy’s Laboratories by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after acquiring an additional 114,294 shares during the period. Jane Street Group LLC lifted its position in shares of Dr. Reddy’s Laboratories by 2,197.8% during 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. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Dr. Reddy’s Laboratories by 219.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,481 shares of the company’s stock valued at $12,353,000 after acquiring an additional 106,796 shares during the period. Institutional investors and hedge funds own 14.02% of the company’s stock.

About Dr. Reddy’s Laboratories

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, as well as engages in the biologics business.