Dr. Reddy’s Laboratories (NYSE:RDY) Lowered to Neutral Rating by Nomura

Nomura lowered shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a neutral rating in a research note published on Thursday morning, MarketBeat reports.

A number of other research firms also recently commented on RDY. Barclays dropped their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $15.37 on Thursday. Dr. Reddy’s Laboratories has a 12 month low of $13.31 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. The firm has a market capitalization of $12.83 billion, a PE ratio of 24.55 and a beta of 0.53. The business’s fifty day moving average price is $14.80 and its 200 day moving average price is $15.39.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Dr. Reddy’s Laboratories by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,768 shares of the company’s stock valued at $2,040,000 after purchasing an additional 489 shares during the period. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Dr. Reddy’s Laboratories by 3.1% in the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock valued at $470,000 after acquiring an additional 184 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Dr. Reddy’s Laboratories by 23.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 31,500 shares of the company’s stock worth $2,375,000 after acquiring an additional 6,000 shares during the last quarter. Panagora Asset Management Inc. raised its position in Dr. Reddy’s Laboratories by 20.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 151,841 shares of the company’s stock valued at $11,569,000 after purchasing an additional 26,165 shares during the last quarter. Finally, Wealthstream Advisors Inc. purchased a new stake in Dr. Reddy’s Laboratories in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 3.85% 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.