Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) has received an average recommendation of “Hold” from the seven brokerages that are covering the stock. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $41.90.

A number of equities analysts have recently commented on the stock. Jefferies Group downgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $45.00 to $41.90 in a research note on Wednesday, July 27th. Credit Suisse Group AG downgraded shares of Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 26th. Zacks Investment Research downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong sell” rating in a research note on Thursday, July 28th. Finally, HSBC downgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research note on Wednesday, July 27th.

A number of large investors have recently modified their holdings of RDY. Royal Bank of Canada increased its stake in shares of Dr. Reddy’s Laboratories by 206.9% in the first quarter. Royal Bank of Canada now owns 1,855,073 shares of the company’s stock valued at $83,830,000 after buying an additional 1,250,644 shares during the period. Fisher Asset Management LLC increased its stake in shares of Dr. Reddy’s Laboratories by 9.0% in the third quarter. Fisher Asset Management LLC now owns 5,696,909 shares of the company’s stock valued at $264,451,000 after buying an additional 469,885 shares during the period. LMR Partners LLP purchased a new stake in shares of Dr. Reddy’s Laboratories during the third quarter valued at about $10,294,000. Segantii Capital Management Ltd increased its stake in shares of Dr. Reddy’s Laboratories by 481.4% in the third quarter. Segantii Capital Management Ltd now owns 224,276 shares of the company’s stock valued at $10,460,000 after buying an additional 185,704 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Dr. Reddy’s Laboratories by 113.9% in the third quarter. Acadian Asset Management LLC now owns 275,233 shares of the company’s stock valued at $12,775,000 after buying an additional 146,578 shares during the period. Institutional investors and hedge funds own 16.58% of the company’s stock.

Dr. Reddy’s Laboratories (NYSE:RDY) opened at 49.25 on Tuesday. The company’s 50-day moving average price is $47.07 and its 200 day moving average price is $46.90. Dr. Reddy’s Laboratories has a 52 week low of $40.67 and a 52 week high of $54.73. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 53.47 and a beta of 0.69.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

5 Day Chart for NYSE:RDY

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