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 equities research analysts at Barclays from $17.40 to $17.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 11.04% from the company’s current price.

Separately, StockNews.com raised 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 NYSE RDY opened at $15.31 on Wednesday. The stock’s 50-day moving average is $15.77 and its two-hundred day moving average is $15.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. Dr. Reddy’s Laboratories has a 1-year low of $12.90 and a 1-year high of $16.89. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 3.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDY. 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 worth $36,000 after acquiring an additional 137 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Dr. Reddy’s Laboratories during the 3rd quarter worth about $60,000. Van ECK Associates Corp boosted its position 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 purchasing an additional 322 shares during the period. GAMMA Investing LLC boosted its position 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 purchasing an additional 657 shares during the period. Finally, Wealthstream Advisors Inc. acquired a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at about $203,000. 14.02% of the stock is owned by institutional investors and hedge funds.

About Dr. Reddy’s Laboratories

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.