Dr.Reddy's Laboratories Ltd (RDY) Receives Average Recommendation of “Hold” from Brokerages

Dr.Reddy's Laboratories Ltd (NYSE:RDY) has received an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $30.51.

A number of brokerages have recently issued reports on RDY. Zacks Investment Research raised shares of Dr.Reddy's Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Jefferies Group dropped their price target on shares of Dr.Reddy's Laboratories from $31.62 to $30.51 and set an “underperform” rating on the stock in a report on Wednesday, November 1st. Finally, ValuEngine downgraded shares of Dr.Reddy's Laboratories from a “hold” rating to a “sell” rating in a report on Friday.

Shares of Dr.Reddy's Laboratories (NYSE RDY) traded down $0.66 during midday trading on Wednesday, hitting $32.04. 299,313 shares of the stock were exchanged, compared to its average volume of 357,859. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.46. The stock has a market cap of $5,510.00, a P/E ratio of 34.45 and a beta of 0.23. Dr.Reddy's Laboratories has a 12-month low of $29.83 and a 12-month high of $46.34.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Dr.Reddy's Laboratories by 0.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,160 shares of the company’s stock valued at $582,000 after acquiring an additional 60 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Dr.Reddy's Laboratories by 11.7% in the second quarter. Ameriprise Financial Inc. now owns 10,087 shares of the company’s stock worth $426,000 after buying an additional 1,054 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Dr.Reddy's Laboratories by 16.4% in the second quarter. Alliancebernstein L.P. now owns 9,085 shares of the company’s stock worth $383,000 after buying an additional 1,277 shares during the last quarter. Lenox Wealth Management Inc. boosted its holdings in shares of Dr.Reddy's Laboratories by 14.3% in the fourth quarter. Lenox Wealth Management Inc. now owns 11,949 shares of the company’s stock worth $449,000 after buying an additional 1,493 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Dr.Reddy's Laboratories by 1.5% in the fourth quarter. Aperio Group LLC now owns 184,726 shares of the company’s stock worth $6,938,000 after buying an additional 2,752 shares during the last quarter. 13.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Dr.Reddy's Laboratories

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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