Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Lowered by Nomura

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by equities research analysts at Nomura from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

Other equities research analysts have also issued reports about the company. Barclays cut their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $14.55 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 23.24 and a beta of 0.53. Dr. Reddy’s Laboratories has a 12-month low of $13.26 and a 12-month high of $16.89. The firm’s 50-day moving average price is $14.84 and its two-hundred day moving average price is $15.39.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Dr. Reddy’s Laboratories by 43.2% during the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after buying an additional 137 shares during the period. Venturi Wealth Management LLC purchased a new position in Dr. Reddy’s Laboratories during the 3rd quarter valued at about $60,000. Van ECK Associates Corp lifted its position in Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after acquiring an additional 322 shares during the period. GAMMA Investing LLC boosted its stake in Dr. Reddy’s Laboratories by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after acquiring an additional 657 shares in the last quarter. Finally, Wealthstream Advisors Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the second quarter valued at approximately $203,000. 3.85% 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.