Dr. Reddy’s Laboratories (NYSE:RDY – Get Free Report) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
A number of other research firms also recently commented on RDY. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. Barclays boosted their target price on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.00.
Dr. Reddy’s Laboratories Stock Up 0.2 %
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in RDY. Sequoia Financial Advisors LLC grew its holdings in Dr. Reddy’s Laboratories by 1.1% during the third quarter. Sequoia Financial Advisors LLC now owns 13,793 shares of the company’s stock valued at $922,000 after purchasing an additional 151 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Dr. Reddy’s Laboratories by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,550 shares of the company’s stock valued at $839,000 after buying an additional 214 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Dr. Reddy’s Laboratories by 2.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock worth $780,000 after acquiring an additional 251 shares during the period. Desjardins Global Asset Management Inc. lifted its position in Dr. Reddy’s Laboratories by 7.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,786 shares of the company’s stock worth $263,000 after acquiring an additional 255 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Dr. Reddy’s Laboratories by 54.7% during the first quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock valued at $53,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 14.02% of the company’s stock.
Dr. Reddy’s Laboratories Company Profile
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.
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