Dr. Reddy’s Laboratories (NYSE:RDY) Stock Price Up 4.7% – Here’s What Happened

Dr. Reddy’s Laboratories Limited (NYSE:RDY) rose 4.7% on Thursday . The stock traded as high as $15.33 and last traded at $15.24. Approximately 411,879 shares changed hands during trading, a decline of 62% from the average daily volume of 1,071,964 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RDY shares. StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Barclays dropped their price objective on shares of 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.

Dr. Reddy’s Laboratories Trading Up 4.3 %

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 stock’s 50-day simple moving average is $14.84 and its two-hundred day simple moving average is $15.39. The firm has a market capitalization of $12.66 billion, a P/E ratio of 24.23 and a beta of 0.53.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors have recently made changes to their positions in RDY. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Dr. Reddy’s Laboratories by 318.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock worth $28,411,000 after purchasing an additional 283,700 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 59.4% during the 3rd quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock worth $39,034,000 after acquiring an additional 183,146 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 61.4% during the 2nd quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock worth $25,333,000 after acquiring an additional 126,472 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Dr. Reddy’s Laboratories by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after acquiring an additional 114,294 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Dr. Reddy’s Laboratories by 219.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,481 shares of the company’s stock valued at $12,353,000 after purchasing an additional 106,796 shares in the last quarter. 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.