Dr. Reddy’s Laboratories (NYSE:RDY) Trading 4.7% Higher – Should You Buy?

Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) shot up 4.7% during trading on Thursday . The company traded as high as $15.33 and last traded at $15.24. 411,879 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,071,964 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RDY shares. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Barclays lowered their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Trading Up 4.3 %

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’s fifty day moving average price is $14.84 and its 200 day moving average price is $15.39. The stock has a market cap of $12.66 billion, a P/E ratio of 24.23 and a beta of 0.53.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after buying an additional 137 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Dr. Reddy’s Laboratories in the 3rd quarter worth approximately $60,000. Van ECK Associates Corp lifted its position in Dr. Reddy’s Laboratories by 64.3% in 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares in the last quarter. Finally, Wealthstream Advisors Inc. purchased a new position in shares of Dr. Reddy’s Laboratories in the second quarter worth $203,000. Hedge funds and other institutional investors own 3.85% 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, as well as engages in the biologics business.