Barclays Increases Dr.Reddy’s Laboratories (NYSE:RDY) Price Target to $53.00
Dr.Reddy’s Laboratories (NYSE:RDY) had its price objective lifted by Barclays from $45.00 to $53.00 in a research report sent to investors on Thursday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.
A number of other research analysts have also weighed in on the company. Nomura Instinet restated a buy rating on shares of Dr.Reddy’s Laboratories in a report on Tuesday, April 21st. ValuEngine downgraded shares of Dr.Reddy’s Laboratories from a hold rating to a sell rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $53.00.
Shares of RDY traded up $0.88 during mid-day trading on Thursday, hitting $60.80. 170,706 shares of the company were exchanged, compared to its average volume of 169,792. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 25.33 and a beta of 0.49. Dr.Reddy’s Laboratories has a 1-year low of $33.33 and a 1-year high of $60.95. The company has a 50 day moving average of $53.41 and a 200-day moving average of $47.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.66.
The business also recently disclosed an annual dividend, which was paid on Friday, July 10th. Investors of record on Friday, January 1st were given a dividend of $0.3304 per share. This is an increase from Dr.Reddy’s Laboratories’s previous annual dividend of $0.27. The ex-dividend date of this dividend was Friday, July 10th. This represents a yield of 0.5%. Dr.Reddy’s Laboratories’s dividend payout ratio (DPR) is presently 9.68%.
Large investors have recently modified their holdings of the business. CWM LLC increased its stake in shares of Dr.Reddy’s Laboratories by 1,719.4% in the 1st quarter. CWM LLC now owns 1,128 shares of the company’s stock worth $45,000 after acquiring an additional 1,066 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Dr.Reddy’s Laboratories in the first quarter valued at about $47,000. Cornerstone Advisors Inc. increased its position in Dr.Reddy’s Laboratories by 54.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the company’s stock worth $76,000 after purchasing an additional 669 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Dr.Reddy’s Laboratories by 19.0% during the first quarter. Banque Cantonale Vaudoise now owns 2,637 shares of the company’s stock worth $106,000 after purchasing an additional 421 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Dr.Reddy’s Laboratories by 2,539.6% in the 1st quarter. JPMorgan Chase & Co. now owns 4,329 shares of the company’s stock valued at $175,000 after purchasing an additional 4,165 shares during the last quarter. Institutional investors own 12.88% of the company’s stock.
Dr.Reddy’s Laboratories Company Profile
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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