A number of other brokerages have also issued reports on RDY. Credit Suisse Group upgraded Dr.Reddy’s Laboratories from an underperform rating to an outperform rating in a research report on Wednesday, September 4th. TheStreet upgraded Dr.Reddy’s Laboratories from a c rating to a b- rating in a report on Thursday, August 15th. Finally, Bank of America cut shares of Dr.Reddy’s Laboratories from a buy rating to a neutral rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Dr.Reddy’s Laboratories currently has a consensus rating of Hold and a consensus target price of $39.50.
RDY opened at $39.99 on Tuesday. The company has a market cap of $6.63 billion, a PE ratio of 24.38 and a beta of 0.20. Dr.Reddy’s Laboratories has a twelve month low of $34.67 and a twelve month high of $42.82. The company has a 50-day moving average price of $39.52 and a 200 day moving average price of $37.93. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.10.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Dr.Reddy’s Laboratories by 20.1% during the second quarter. Bank of New York Mellon Corp now owns 27,401 shares of the company’s stock worth $1,027,000 after buying an additional 4,587 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Dr.Reddy’s Laboratories during the 2nd quarter worth $171,000. Panagora Asset Management Inc. boosted its position in shares of Dr.Reddy’s Laboratories by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 116,084 shares of the company’s stock valued at $4,349,000 after acquiring an additional 8,836 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Dr.Reddy’s Laboratories by 1.0% in the second quarter. Bank of America Corp DE now owns 188,488 shares of the company’s stock valued at $7,062,000 after purchasing an additional 1,859 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Dr.Reddy’s Laboratories in the second quarter valued at about $314,000. Institutional investors and hedge funds own 12.66% of the company’s stock.
About Dr.Reddy’s Laboratories
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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