Barclays Raises Dr. Reddy’s Laboratories (NYSE:RDY) Price Target to $81.00

Dr. Reddy’s Laboratories (NYSE:RDY) had its price target boosted by equities research analysts at Barclays from $80.00 to $81.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 13.41% from the stock’s current price.

Several other analysts also recently issued reports on the company. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research note on Thursday, January 11th. StockNews.com downgraded Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.00.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY traded up $0.08 during mid-day trading on Wednesday, reaching $71.42. The stock had a trading volume of 84,138 shares, compared to its average volume of 194,235. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.88 and a beta of 0.57. Dr. Reddy’s Laboratories has a 12 month low of $53.12 and a 12 month high of $77.72. The business has a fifty day moving average of $73.82 and a 200 day moving average of $70.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 4th quarter worth approximately $34,000. CWM LLC lifted its position in Dr. Reddy’s Laboratories by 37.9% in the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock worth $151,000 after buying an additional 598 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Dr. Reddy’s Laboratories during the first quarter worth $189,000. Aprio Wealth Management LLC bought a new position in Dr. Reddy’s Laboratories during the first quarter valued at $212,000. Finally, Trexquant Investment LP purchased a new stake in shares of Dr. Reddy’s Laboratories in the fourth quarter valued at $219,000. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

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.