Shares of Dr.Reddy's Laboratories Ltd (NYSE:RDY) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $30.51.

Several analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Dr.Reddy's Laboratories from an “equal weight” rating to an “overweight” rating in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Dr.Reddy's Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Jefferies Group reiterated a “sell” rating and issued a $31.62 target price on shares of Dr.Reddy's Laboratories in a research note on Sunday, September 3rd. Finally, CLSA upgraded shares of Dr.Reddy's Laboratories from an “underperform” rating to an “outperform” rating in a research note on Thursday, August 31st.

Shares of Dr.Reddy's Laboratories (NYSE RDY) opened at $34.58 on Tuesday. Dr.Reddy's Laboratories has a one year low of $29.83 and a one year high of $46.95. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5,670.00, a price-to-earnings ratio of 33.23 and a beta of 0.39.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC bought a new position in Dr.Reddy's Laboratories during the third quarter valued at about $1,071,000. Jane Street Group LLC bought a new position in Dr.Reddy's Laboratories during the third quarter valued at about $3,743,000. Sectoral Asset Management Inc grew its position in Dr.Reddy's Laboratories by 140.2% during the third quarter. Sectoral Asset Management Inc now owns 45,796 shares of the company’s stock valued at $1,634,000 after buying an additional 26,731 shares during the period. Envestnet Asset Management Inc. grew its position in Dr.Reddy's Laboratories by 11.7% during the third quarter. Envestnet Asset Management Inc. now owns 56,736 shares of the company’s stock valued at $2,024,000 after buying an additional 5,932 shares during the period. Finally, NINE MASTS CAPITAL Ltd bought a new position in Dr.Reddy's Laboratories during the third quarter valued at about $380,000. Institutional investors own 13.73% of the company’s stock.

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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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