Barclays Increases Dr. Reddy's Laboratories (NYSE:RDY) Price Target to $81.00

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) had its target price upped by investment analysts at Barclays from $80.00 to $81.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 13.35% from the stock's current price.

Several other brokerages also recently commented on RDY. StockNews.com downgraded shares of Dr. Reddy's Laboratories from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 30th. Jefferies Financial Group downgraded Dr. Reddy's Laboratories from a "buy" rating to an "underperform" rating in a report on Thursday, January 11th. 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, the company currently has a consensus rating of "Hold" and an average price target of $81.00.

Dr. Reddy's Laboratories Trading Up 0.2 %

NYSE RDY traded up $0.12 on Wednesday, hitting $71.46. 130,424 shares of the stock were exchanged, compared to its average volume of 194,841. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. Dr. Reddy's Laboratories has a 52-week low of $53.12 and a 52-week high of $77.72. The firm has a market capitalization of $11.93 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.88 and a beta of 0.57. The stock has a fifty day moving average price of $73.71 and a two-hundred day moving average price of $70.85.

Hedge Funds Weigh In On Dr. Reddy's Laboratories

A number of hedge funds have recently added to or reduced their stakes in RDY. Allspring Global Investments Holdings LLC raised its holdings in shares of Dr. Reddy's Laboratories by 8.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 115,499 shares of the company's stock valued at $8,036,000 after acquiring an additional 9,414 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Dr. Reddy's Laboratories by 3.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 14,294 shares of the company's stock valued at $995,000 after purchasing an additional 501 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Dr. Reddy's Laboratories by 40.7% in the 3rd quarter. Wellington Management Group LLP now owns 141,154 shares of the company's stock worth $9,439,000 after purchasing an additional 40,825 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Dr. Reddy's Laboratories by 125.8% during the fourth quarter. Fisher Asset Management LLC now owns 204,672 shares of the company's stock valued at $14,241,000 after purchasing an additional 114,022 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Dr. Reddy's Laboratories by 5.3% during the third quarter. Nordea Investment Management AB now owns 23,855 shares of the company's stock valued at $1,601,000 after buying an additional 1,196 shares during the period. 14.02% of the stock is currently owned by institutional investors.

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.