Dr. Reddy’s Laboratories (NYSE:RDY) Stock Rating Upgraded by Bank of America

Dr. Reddy’s Laboratories (NYSE:RDY – Get Rating) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other research firms also recently commented on RDY. JPMorgan Chase & Co. began coverage on shares of Dr. Reddy’s Laboratories in a research note on Monday, January 30th. They set an “underweight” rating on the stock. StockNews.com initiated coverage on shares of Dr. Reddy’s Laboratories in a report on Thursday. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and an average price target of $67.00.

Dr. Reddy’s Laboratories Trading Up 1.7 %

RDY stock opened at $55.12 on Friday. The company has a market capitalization of $9.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. Dr. Reddy’s Laboratories has a one year low of $49.59 and a one year high of $58.28. The company’s 50 day moving average price is $53.87 and its two-hundred day moving average price is $53.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.72 and a current ratio of 2.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DGS Capital Management LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 6.0% in the fourth quarter. DGS Capital Management LLC now owns 6,782 shares of the company’s stock worth $351,000 after purchasing an additional 382 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Dr. Reddy’s Laboratories by 2.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 188,800 shares of the company’s stock valued at $9,770,000 after acquiring an additional 5,100 shares in the last quarter. CI Private Wealth LLC bought a new stake in Dr. Reddy’s Laboratories in the fourth quarter valued at $631,000. Cerity Partners LLC boosted its holdings in Dr. Reddy’s Laboratories by 17.0% in the fourth quarter. Cerity Partners LLC now owns 8,194 shares of the company’s stock valued at $424,000 after acquiring an additional 1,192 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Dr. Reddy’s Laboratories in the fourth quarter valued at $498,000. Institutional investors own 9.81% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

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Dr. Reddy’s Laboratories Ltd. engages in the manufacture and marketing of pharmaceutical products. It operates through the following segments: Global Generics, Pharmaceutical Services & Active Ingredients, Proprietary Products, and Others. The Global Generics segment consists of manufacturing and marketing of prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name or as generic finished dosages with therapeutic equivalence to branded formulations.