Barclays Boosts Dr. Reddy’s Laboratories (NYSE:RDY) Price Target to $70.00

Dr. Reddy’s Laboratories (NYSE:RDYGet Rating) had its price target upped by equities researchers at Barclays from $69.00 to $70.00 in a report issued on Tuesday, The Fly reports. Barclays‘s price objective suggests a potential upside of 27.11% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating and set a $59.00 price target on the stock. in a report on Friday, April 1st. StockNews.com started coverage on shares of Dr. Reddy’s Laboratories in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NYSE RDY opened at $55.07 on Tuesday. The stock has a market cap of $9.17 billion, a PE ratio of 24.05 and a beta of 0.55. Dr. Reddy’s Laboratories has a 1 year low of $47.88 and a 1 year high of $75.50. The firm has a fifty day moving average price of $54.02 and a 200-day moving average price of $57.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.99 and a quick ratio of 1.40.

Several large investors have recently added to or reduced their stakes in RDY. Royal Bank of Canada grew its holdings in shares of Dr. Reddy’s Laboratories by 0.7% in the third quarter. Royal Bank of Canada now owns 3,357,367 shares of the company’s stock worth $218,699,000 after purchasing an additional 23,859 shares during the last quarter. BlackRock Inc. grew its stake in Dr. Reddy’s Laboratories by 2.0% in the 1st quarter. BlackRock Inc. now owns 1,583,891 shares of the company’s stock worth $88,271,000 after acquiring an additional 30,341 shares in the last quarter. State Street Corp increased its position in shares of Dr. Reddy’s Laboratories by 3.3% during the first quarter. State Street Corp now owns 904,029 shares of the company’s stock worth $50,382,000 after acquiring an additional 28,550 shares during the period. Schroder Investment Management Group raised its stake in shares of Dr. Reddy’s Laboratories by 153.5% during the fourth quarter. Schroder Investment Management Group now owns 881,893 shares of the company’s stock valued at $57,685,000 after acquiring an additional 534,009 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 33.7% in the first quarter. Goldman Sachs Group Inc. now owns 744,485 shares of the company’s stock valued at $41,490,000 after purchasing an additional 187,845 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

About Dr. Reddy’s Laboratories (Get Rating)

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), Proprietary Products, and Others segments. The 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.

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