Dr. Reddy’s Laboratories (NYSE:RDY) Shares Cross Above 200 Day Moving Average – Here’s Why

Dr. Reddy’s Laboratories Limited (NYSE:RDY) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.49 and traded as high as $15.53. Dr. Reddy’s Laboratories shares last traded at $15.44, with a volume of 1,599,025 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on the company. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Barclays decreased their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Down 1.5 %

The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $14.78 and a 200-day simple moving average of $15.50. The stock has a market cap of $12.89 billion, a P/E ratio of 24.66 and a beta of 0.53.

Institutional Investors Weigh In On Dr. Reddy’s Laboratories

Several hedge funds have recently added to or reduced their stakes in RDY. World Investment Advisors LLC acquired a new position in Dr. Reddy’s Laboratories in the 3rd quarter valued at about $3,459,000. Frank Rimerman Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories during the second quarter worth approximately $2,633,000. Caprock Group LLC acquired a new stake in Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $997,000. Natixis Advisors LLC bought a new stake in Dr. Reddy’s Laboratories in the 2nd quarter valued at $777,000. Finally, Dimensional Fund Advisors LP grew its holdings in Dr. Reddy’s Laboratories by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after buying an additional 114,294 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

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, as well as engages in the biologics business.