Dr. Reddy’s Laboratories (NYSE:RDY) Downgraded by Nomura 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 note issued to investors on Thursday, Marketbeat.com reports.

Several other brokerages also recently weighed in on RDY. StockNews.com downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Barclays dropped their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Price Performance

NYSE RDY opened at $15.37 on Thursday. The firm’s fifty day simple moving average is $14.80 and its two-hundred day simple moving average is $15.38. The firm has a market capitalization of $12.83 billion, a P/E ratio of 24.55 and a beta of 0.53. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDY. Bank of New York Mellon Corp raised its stake in shares of Dr. Reddy’s Laboratories by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 26,768 shares of the company’s stock worth $2,040,000 after purchasing an additional 489 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in Dr. Reddy’s Laboratories by 3.1% in the 2nd 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. raised 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 worth $2,375,000 after buying an additional 6,000 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Dr. Reddy’s Laboratories by 20.8% during 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. purchased a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.