Dr. Reddy’s Laboratories (NYSE:RDY) Upgraded by StockNews.com to Strong-Buy Rating

Dr. Reddy’s Laboratories (NYSE:RDY) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Separately, Barclays increased their price objective on Dr. Reddy’s Laboratories from $16.20 to $17.40 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Down 1.3 %

RDY traded down $0.19 during trading on Tuesday, reaching $14.61. The stock had a trading volume of 493,371 shares, compared to its average volume of 1,045,116. The stock’s 50 day moving average is $15.81 and its two-hundred day moving average is $15.34. 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 company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 3.65, a P/E/G ratio of 2.34 and a beta of 0.56. Dr. Reddy’s Laboratories has a one year low of $12.87 and a one year high of $16.89.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in shares of Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after buying an additional 137 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Dr. Reddy’s Laboratories by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after buying an additional 180 shares in the last quarter. Augustine Asset Management Inc. lifted its position in shares of Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock valued at $3,857,000 after buying an additional 181 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its position in shares of Dr. Reddy’s Laboratories by 3.1% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock valued at $470,000 after buying an additional 184 shares in the last quarter. Finally, CWM LLC raised its stake in Dr. Reddy’s Laboratories by 10.5% during the 2nd quarter. CWM LLC now owns 2,855 shares of the company’s stock valued at $218,000 after purchasing an additional 271 shares during the period. 14.02% of the stock is owned by hedge funds and other 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, as well as engages in the biologics business.