Barclays Lowers Dr. Reddy’s Laboratories (NYSE:RDY) Price Target to $17.00

Dr. Reddy’s Laboratories (NYSE:RDY) had its price objective lowered by Barclays from $17.40 to $17.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, StockNews.com upgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Dr. Reddy’s Laboratories Price Performance

Shares of Dr. Reddy’s Laboratories stock traded down $0.20 on Wednesday, reaching $15.00. The company’s stock had a trading volume of 62,223 shares, compared to its average volume of 1,038,264. Dr. Reddy’s Laboratories has a 52-week low of $12.90 and a 52-week high of $16.89. The company has a market capitalization of $2.50 billion, a P/E ratio of 3.80, a PEG ratio of 2.33 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $15.74 and a 200-day moving average price of $15.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted 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 acquiring an additional 137 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Dr. Reddy’s Laboratories in the 3rd quarter valued at about $60,000. Van ECK Associates Corp grew its stake in shares of Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after buying an additional 322 shares during the period. GAMMA Investing LLC grew its stake in shares of Dr. Reddy’s Laboratories by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after buying an additional 657 shares during the period. Finally, Wealthstream Advisors Inc. acquired a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $203,000. 14.02% of the stock is currently 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, as well as engages in the biologics business.