Dr. Reddy’s Laboratories (NYSE:RDY) Cut to Neutral at Nomura

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by equities research analysts at Nomura from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

RDY has been the subject of several other reports. Barclays decreased their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company 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 report on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

RDY opened at $14.55 on Thursday. The firm has a market cap of $12.15 billion, a PE ratio of 23.24 and a beta of 0.53. The stock has a 50-day moving average price of $14.84 and a 200-day moving average price of $15.39. Dr. Reddy’s Laboratories has a 1 year low of $13.26 and a 1 year 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.

Hedge Funds Weigh In On Dr. Reddy’s Laboratories

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after acquiring an additional 137 shares during the period. Venturi Wealth Management LLC purchased a new stake in Dr. Reddy’s Laboratories in the third quarter worth approximately $60,000. Van ECK Associates Corp grew its position in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after purchasing an additional 322 shares during the period. GAMMA Investing LLC grew its position in Dr. Reddy’s Laboratories by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in Dr. Reddy’s Laboratories during the 3rd quarter valued at $207,000. 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.