Jefferies Group LLC reaffirmed their sell rating on shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in a research note issued to investors on Sunday morning. Jefferies Group LLC currently has a $31.62 target price on the stock.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a strong sell rating to a hold rating in a research note on Friday, July 14th. Deutsche Bank AG raised shares of Dr. Reddy’s Laboratories from a sell rating to a hold rating in a research note on Monday, May 15th. CLSA raised shares of Dr. Reddy’s Laboratories from an underperform rating to an outperform rating in a research note on Thursday, August 31st. Finally, BidaskClub lowered shares of Dr. Reddy’s Laboratories from a hold rating to a sell rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $31.62.

Shares of Dr. Reddy’s Laboratories (NYSE:RDY) opened at 34.12 on Friday. The stock has a 50 day moving average of $34.55 and a 200 day moving average of $39.38. Dr. Reddy’s Laboratories has a 52-week low of $29.83 and a 52-week high of $50.10. The stock has a market capitalization of $5.66 billion, a PE ratio of 32.01 and a beta of 0.34.

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The firm also recently disclosed a None dividend, which was paid on Thursday, August 10th. Investors of record on Monday, July 17th were paid a $0.294 dividend. The ex-dividend date of this dividend was Thursday, July 13th. Dr. Reddy’s Laboratories’s dividend payout ratio (DPR) is presently 27.88%.

A number of large investors have recently added to or reduced their stakes in RDY. Royal Bank of Canada lifted its stake in Dr. Reddy’s Laboratories by 34.8% in the second quarter. Royal Bank of Canada now owns 3,460,613 shares of the company’s stock worth $145,831,000 after acquiring an additional 893,138 shares during the period. First Trust Advisors LP lifted its stake in Dr. Reddy’s Laboratories by 101.6% in the second quarter. First Trust Advisors LP now owns 334,993 shares of the company’s stock worth $14,117,000 after acquiring an additional 168,851 shares during the period. Commonwealth Bank of Australia lifted its stake in Dr. Reddy’s Laboratories by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 3,452,533 shares of the company’s stock worth $145,488,000 after acquiring an additional 168,818 shares during the period. Karp Capital Management Corp purchased a new stake in Dr. Reddy’s Laboratories in the first quarter worth about $5,893,000. Finally, Renaissance Technologies LLC purchased a new stake in Dr. Reddy’s Laboratories in the first quarter worth about $4,425,000. 15.30% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Company Profile

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).

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