Dr. Reddy’s Laboratories Ltd (NYSE:RDY) had its price objective cut by Jefferies Group LLC from $31.62 to $30.51 in a report released on Wednesday. They currently have an underperform rating on the stock. Jefferies Group also issued estimates for Dr. Reddy’s Laboratories’ FY2018 earnings at $1.14 EPS, FY2019 earnings at $1.88 EPS and FY2020 earnings at $2.21 EPS.

RDY has been the topic of a number of other research reports. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a strong sell rating to a hold rating in a research report on Friday, July 14th. Morgan Stanley raised shares of Dr. Reddy’s Laboratories from an equal weight rating to an overweight rating in a research report on Thursday, September 21st. BidaskClub lowered shares of Dr. Reddy’s Laboratories from a hold rating to a sell rating in a research report on Monday, July 31st. Finally, CLSA raised shares of Dr. Reddy’s Laboratories from an underperform rating to an outperform rating in a research report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $30.51.

Shares of Dr. Reddy’s Laboratories (RDY) opened at $36.75 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6,093.96, a P/E ratio of 35.68, a price-to-earnings-growth ratio of 10.75 and a beta of 0.40.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Dr. Reddy’s Laboratories during the second quarter worth $144,000. Airain ltd bought a new stake in Dr. Reddy’s Laboratories during the second quarter worth $223,000. DekaBank Deutsche Girozentrale bought a new stake in Dr. Reddy’s Laboratories during the second quarter worth $237,000. Dynamic Technology Lab Private Ltd bought a new stake in Dr. Reddy’s Laboratories during the second quarter worth $286,000. Finally, Bank of New York Mellon Corp bought a new stake in Dr. Reddy’s Laboratories during the first quarter worth $297,000. 15.23% of the stock is currently owned by hedge funds and other 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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