Dr. Reddy’s Laboratories (NYSE:RDY) Price Target Raised to $81.00

Dr. Reddy’s Laboratories (NYSE:RDY) had its price target lifted by analysts at Barclays from $80.00 to $81.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 13.41% from the company’s previous close.

Several other brokerages also recently issued reports on RDY. Jefferies Financial Group downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. StockNews.com cut Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories presently has an average rating of “Hold” and a consensus price target of $81.00.

Dr. Reddy’s Laboratories Price Performance

RDY stock traded up $0.08 during mid-day trading on Wednesday, hitting $71.42. The stock had a trading volume of 84,138 shares, compared to its average volume of 194,235. Dr. Reddy’s Laboratories has a 52 week low of $53.12 and a 52 week high of $77.72. The firm has a fifty day simple moving average of $73.82 and a 200 day simple moving average of $70.84. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.92 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.88 and a beta of 0.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RDY. GAMMA Investing LLC bought a new position in shares of Dr. Reddy’s Laboratories during the 4th quarter worth approximately $34,000. CWM LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 37.9% during the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock valued at $151,000 after purchasing an additional 598 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth about $189,000. Aprio Wealth Management LLC bought a new stake in Dr. Reddy’s Laboratories in the 1st quarter valued at about $212,000. Finally, Trexquant Investment LP acquired a new position in Dr. Reddy’s Laboratories during the 4th quarter worth approximately $219,000. 14.02% of the stock is owned by institutional investors and hedge funds.

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.