Dr. Reddy’s Laboratories Ltd (NYSE:RDY) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $31.62.

Several equities analysts recently weighed in on RDY shares. BidaskClub cut shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. CLSA cut shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $31.62 price target on shares of Dr. Reddy’s Laboratories in a research report on Sunday, September 3rd. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley raised shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a research report on Thursday, September 21st.

Shares of Dr. Reddy’s Laboratories (NYSE:RDY) opened at 36.68 on Monday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 34.25 and a beta of 0.36. Dr. Reddy’s Laboratories has a one year low of $29.83 and a one year high of $50.10. The stock has a 50 day moving average price of $35.59 and a 200-day moving average price of $38.07.

Several institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $286,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,160 shares of the company’s stock worth $582,000 after buying an additional 60 shares in the last quarter. State Street Corp lifted its position in shares of Dr. Reddy’s Laboratories by 20.3% during the 2nd quarter. State Street Corp now owns 629,903 shares of the company’s stock worth $26,545,000 after buying an additional 106,321 shares in the last quarter. Lenox Wealth Management Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $409,000. Finally, Royal Bank of Canada lifted its position in shares of Dr. Reddy’s Laboratories by 34.8% during the 2nd quarter. Royal Bank of Canada now owns 3,460,613 shares of the company’s stock worth $145,831,000 after buying an additional 893,138 shares in the last quarter. 15.26% of the stock is currently owned by hedge funds and other institutional investors.

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About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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