Morgan Stanley lowered shares of Dr.Reddy’s Laboratories (NYSE:RDY) from an overweight rating to an equal weight rating in a research note released on Monday, BenzingaRatingsTable reports.

Several other research analysts have also recently issued reports on RDY. Zacks Investment Research cut shares of Dr.Reddy’s Laboratories from a buy rating to a hold rating in a report on Monday, April 8th. TheStreet raised shares of Dr.Reddy’s Laboratories from a c+ rating to a b rating in a report on Friday, February 1st. Finally, CL King raised shares of Dr.Reddy’s Laboratories from a neutral rating to a buy rating in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $44.00.

NYSE RDY opened at $37.01 on Monday. The stock has a market cap of $6.54 billion, a P/E ratio of 22.57 and a beta of 0.13. Dr.Reddy’s Laboratories has a 52-week low of $28.13 and a 52-week high of $42.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.26.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Capital Group LLC raised its holdings in Dr.Reddy’s Laboratories by 209.2% during the fourth quarter. Private Capital Group LLC now owns 739 shares of the company’s stock worth $28,000 after purchasing an additional 500 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Dr.Reddy’s Laboratories during the fourth quarter worth about $34,000. Cornerstone Advisors Inc. grew its position in Dr.Reddy’s Laboratories by 93.3% during the first quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock worth $38,000 after buying an additional 458 shares during the period. Advisor Group Inc. grew its position in Dr.Reddy’s Laboratories by 147.2% during the fourth quarter. Advisor Group Inc. now owns 979 shares of the company’s stock worth $37,000 after buying an additional 583 shares during the period. Finally, NumerixS Investment Technologies Inc grew its position in Dr.Reddy’s Laboratories by 150.0% during the first quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the company’s stock worth $40,000 after buying an additional 600 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

About Dr.Reddy’s Laboratories

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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