Dr. Reddy’s Laboratories (NYSE:RDY) Price Target Raised to $81.00 at Barclays

Dr. Reddy’s Laboratories (NYSE:RDY) had its target price raised by Barclays from $80.00 to $81.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on RDY. Jefferies Financial Group cut Dr. Reddy’s Laboratories from a buy rating to an underperform rating in a research report on Thursday, January 11th. StockNews.com downgraded Dr. Reddy’s Laboratories from a strong-buy rating to a buy rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Dr. Reddy’s Laboratories currently has an average rating of Hold and a consensus target price of $81.00.

Dr. Reddy’s Laboratories Stock Down 2.8 %

NYSE RDY traded down $2.03 during trading hours on Wednesday, reaching $69.47. 347,272 shares of the company’s stock traded hands, compared to its average volume of 196,533. The firm has a market cap of $11.59 billion, a PE ratio of 18.33, a PEG ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. Dr. Reddy’s Laboratories has a 52-week low of $53.12 and a 52-week high of $77.72. The firm has a 50-day simple moving average of $73.71 and a 200 day simple moving average of $70.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Partners II LLC boosted its stake in Dr. Reddy’s Laboratories by 79.4% during the 3rd quarter. Advisor Partners II LLC now owns 13,126 shares of the company’s stock valued at $878,000 after purchasing an additional 5,811 shares during the last quarter. Assetmark Inc. raised its position in Dr. Reddy’s Laboratories by 3,969.7% in the 3rd quarter. Assetmark Inc. now owns 46,232 shares of the company’s stock worth $3,092,000 after buying an additional 45,096 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Dr. Reddy’s Laboratories by 11.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,157 shares of the company’s stock valued at $612,000 after acquiring an additional 914 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Dr. Reddy’s Laboratories by 87.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 85,900 shares of the company’s stock valued at $5,744,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Dr. Reddy’s Laboratories by 6.0% in the third quarter. Signaturefd LLC now owns 20,240 shares of the company’s stock worth $1,353,000 after acquiring an additional 1,148 shares during the period. Institutional investors 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.