Mondrian Investment Partners LTD cut its holdings in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,321 shares of the company’s stock after selling 18,675 shares during the period. Mondrian Investment Partners LTD owned about 0.33% of Dr.Reddy’s Laboratories worth $20,927,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of RDY. Natixis purchased a new stake in Dr.Reddy’s Laboratories during the second quarter worth about $15,799,000. Bamco Inc. NY increased its stake in Dr.Reddy’s Laboratories by 612.2% during the second quarter. Bamco Inc. NY now owns 330,360 shares of the company’s stock worth $12,379,000 after purchasing an additional 283,975 shares during the period. BlackRock Inc. increased its stake in Dr.Reddy’s Laboratories by 10.1% during the second quarter. BlackRock Inc. now owns 1,966,545 shares of the company’s stock worth $73,688,000 after purchasing an additional 179,778 shares during the period. Renaissance Technologies LLC increased its stake in shares of Dr.Reddy’s Laboratories by 12.7% during the second quarter. Renaissance Technologies LLC now owns 1,198,600 shares of the company’s stock worth $44,912,000 after buying an additional 134,600 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Dr.Reddy’s Laboratories during the third quarter worth approximately $4,377,000. Institutional investors own 13.06% of the company’s stock.
Shares of RDY stock traded down $0.46 during trading hours on Friday, reaching $39.90. 79,001 shares of the stock were exchanged, compared to its average volume of 188,670. The business’s fifty day moving average is $38.64 and its two-hundred day moving average is $38.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.96 and a quick ratio of 1.32. Dr.Reddy’s Laboratories Ltd has a 12-month low of $33.02 and a 12-month high of $42.82. The firm has a market capitalization of $6.63 billion, a P/E ratio of 24.33 and a beta of 0.22.
A number of research firms recently weighed in on RDY. Bank of America lowered shares of Dr.Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday. TheStreet upgraded shares of Dr.Reddy’s Laboratories from a “c” rating to a “b-” rating in a research note on Thursday, August 15th. Zacks Investment Research upgraded shares of Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, July 19th. Credit Suisse Group upgraded shares of Dr.Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research note on Wednesday, September 4th. Finally, ValuEngine lowered shares of Dr.Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.50.
About Dr.Reddy’s Laboratories
Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. 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 dosage with therapeutic equivalence to branded formulations.
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