Nomura Downgrades Dr. Reddy’s Laboratories (NYSE:RDY) to Neutral

Dr. Reddy’s Laboratories (NYSE:RDY) was downgraded by stock analysts at Nomura from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Barclays lowered their price target on 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 Stock Up 1.7 %

Shares of RDY opened at $15.37 on Thursday. The firm has a fifty day moving average price of $14.80 and a 200-day moving average price of $15.38. 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 firm has a market capitalization of $12.83 billion, a P/E ratio of 24.55 and a beta of 0.53. Dr. Reddy’s Laboratories has a 12-month low of $13.31 and a 12-month high of $16.89.

Institutional Trading of Dr. Reddy’s Laboratories

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Dr. Reddy’s Laboratories by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,768 shares of the company’s stock valued at $2,040,000 after purchasing an additional 489 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in Dr. Reddy’s Laboratories by 3.1% during the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after buying an additional 184 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Dr. Reddy’s Laboratories by 23.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 31,500 shares of the company’s stock valued at $2,375,000 after acquiring an additional 6,000 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Dr. Reddy’s Laboratories by 20.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 151,841 shares of the company’s stock valued at $11,569,000 after acquiring an additional 26,165 shares during the period. Finally, Wealthstream Advisors Inc. bought a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth $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.