Barclays Lowers Dr. Reddy’s Laboratories (NYSE:RDY) Price Target to $17.00

Dr. Reddy’s Laboratories (NYSE:RDY) had its target price reduced by research analysts at Barclays from $17.40 to $17.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 11.04% from the stock’s current price.

Separately, StockNews.com raised Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Dr. Reddy’s Laboratories Stock Up 4.8 %

Shares of NYSE RDY opened at $15.31 on Wednesday. The stock has a market cap of $2.56 billion, a PE ratio of 3.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a 52-week low of $12.90 and a 52-week high of $16.89. The business has a 50-day moving average price of $15.77 and a 200 day moving average price of $15.34.

Institutional Trading of Dr. Reddy’s Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after acquiring an additional 137 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock worth $603,000 after buying an additional 180 shares in the last quarter. Augustine Asset Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock worth $3,857,000 after buying an additional 181 shares in the last quarter. Lester Murray Antman dba SimplyRich raised its stake in shares of Dr. Reddy’s Laboratories by 3.1% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after buying an additional 184 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Dr. Reddy’s Laboratories by 10.5% during the 2nd quarter. CWM LLC now owns 2,855 shares of the company’s stock worth $218,000 after buying an additional 271 shares in the last quarter. 14.02% of the stock is owned by hedge funds and other institutional investors.

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.