Dr. Reddy’s Laboratories (NYSE:RDY) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Barclays decreased their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Trading Up 0.7 %

RDY stock opened at $14.57 on Friday. The business has a fifty day moving average price of $15.02 and a 200 day moving average price of $15.36. Dr. Reddy’s Laboratories has a fifty-two week low of $12.90 and a fifty-two week high of $16.89. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 23.28 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDY. CWM LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 10.5% in the second quarter. CWM LLC now owns 2,855 shares of the company’s stock valued at $218,000 after purchasing an additional 271 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Dr. Reddy’s Laboratories by 2.3% in the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after acquiring an additional 180 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Dr. Reddy’s Laboratories by 92.6% in the second quarter. Artemis Investment Management LLP now owns 15,600 shares of the company’s stock valued at $1,189,000 after acquiring an additional 7,500 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 7.4% in the second quarter. Sequoia Financial Advisors LLC now owns 15,607 shares of the company’s stock valued at $1,189,000 after acquiring an additional 1,081 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Dr. Reddy’s Laboratories by 46.1% in the second quarter. V Square Quantitative Management LLC now owns 13,510 shares of the company’s stock valued at $1,020,000 after acquiring an additional 4,260 shares during the last quarter. 14.02% of the stock is currently owned by 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.