Shares of Dr.Reddy's Laboratories Ltd (NYSE:RDY) have earned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.51.
A number of research firms have recently weighed in on RDY. Zacks Investment Research raised Dr.Reddy's Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group lowered their price objective on shares of Dr.Reddy's Laboratories from $31.62 to $30.51 and set an “underperform” rating for the company in a research report on Wednesday, November 1st. Finally, Morgan Stanley upgraded shares of Dr.Reddy's Laboratories from an “equal weight” rating to an “overweight” rating in a research report on Thursday, September 21st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Dr.Reddy's Laboratories in the 2nd quarter valued at $144,000. Airain ltd bought a new stake in shares of Dr.Reddy's Laboratories in the 2nd quarter valued at $223,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Dr.Reddy's Laboratories in the 2nd quarter valued at $286,000. Stevens Capital Management LP bought a new stake in shares of Dr.Reddy's Laboratories in the 2nd quarter valued at $309,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in shares of Dr.Reddy's Laboratories in the 3rd quarter valued at $380,000. Institutional investors and hedge funds own 13.71% of the company’s stock.
Dr.Reddy's Laboratories Company Profile
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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