Dr.Reddy’s Laboratories (RDY) Upgraded by ValuEngine to Hold
ValuEngine upgraded shares of Dr.Reddy’s Laboratories (NYSE:RDY) from a sell rating to a hold rating in a report released on Friday morning.
Separately, Zacks Investment Research upgraded Dr.Reddy’s Laboratories from a hold rating to a buy rating and set a $37.00 target price for the company in a research report on Wednesday.
Shares of NYSE RDY traded up $0.58 during midday trading on Friday, hitting $33.17. 363,125 shares of the company’s stock were exchanged, compared to its average volume of 369,583. The company has a current ratio of 1.64, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.74 billion, a PE ratio of 32.84 and a beta of 0.13. Dr.Reddy’s Laboratories has a twelve month low of $28.13 and a twelve month high of $39.96.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in shares of Dr.Reddy’s Laboratories by 5.5% in the third quarter. Bank of Montreal Can now owns 147,188 shares of the company’s stock worth $5,093,000 after acquiring an additional 7,720 shares during the last quarter. Northern Trust Corp increased its stake in shares of Dr.Reddy’s Laboratories by 4.9% in the second quarter. Northern Trust Corp now owns 380,284 shares of the company’s stock worth $12,245,000 after acquiring an additional 17,599 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Dr.Reddy’s Laboratories in the second quarter worth $309,000. Jane Street Group LLC acquired a new position in shares of Dr.Reddy’s Laboratories in the second quarter worth $4,332,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Dr.Reddy’s Laboratories by 29,814.7% in the second quarter. Advisors Asset Management Inc. now owns 863,638 shares of the company’s stock worth $119,000 after acquiring an additional 860,751 shares during the last quarter. Hedge funds and other institutional investors own 12.27% 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.
Featured Story: Earnings Reports
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Dr.Reddy's Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr.Reddy's Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.