Dr. Reddy’s Laboratories (NYSE:RDY) Downgraded by StockNews.com to “Buy”

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Separately, Barclays dropped their price target on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $14.76 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.90. The company has a market cap of $12.32 billion, a PE ratio of 23.43, a P/E/G ratio of 2.40 and a beta of 0.56. The stock has a fifty day moving average price of $15.62 and a 200 day moving average price of $15.36. Dr. Reddy’s Laboratories has a 1-year low of $12.90 and a 1-year high of $16.89.

Institutional Trading of Dr. Reddy’s Laboratories

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after acquiring an additional 137 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter valued at about $60,000. Van ECK Associates Corp lifted its stake in shares of Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares during the period. GAMMA Investing LLC boosted its holdings in Dr. Reddy’s Laboratories by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after buying an additional 657 shares in the last quarter. Finally, Wealthstream Advisors Inc. acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth about $203,000. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

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.