Community Financial Services Group LLC increased its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 3.2% during the first quarter, Holdings Channel reports. The firm owned 96,757 shares of the company’s stock after buying an additional 3,019 shares during the period. Dr. Reddy’s Laboratories comprises approximately 1.7% of Community Financial Services Group LLC’s investment portfolio, making the stock its 29th largest position. Community Financial Services Group LLC’s holdings in Dr. Reddy’s Laboratories were worth $3,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management AG increased its position in shares of Dr. Reddy’s Laboratories by 26.3% in the fourth quarter. Allianz Asset Management AG now owns 25,812 shares of the company’s stock worth $1,168,000 after buying an additional 5,368 shares during the period. Aviva PLC increased its position in shares of Dr. Reddy’s Laboratories by 6.4% in the fourth quarter. Aviva PLC now owns 81,590 shares of the company’s stock worth $3,694,000 after buying an additional 4,916 shares during the period. Sei Investments Co. increased its position in shares of Dr. Reddy’s Laboratories by 6.0% in the first quarter. Sei Investments Co. now owns 164,816 shares of the company’s stock worth $6,617,000 after buying an additional 9,400 shares during the period. Comerica Bank increased its position in shares of Dr. Reddy’s Laboratories by 9.0% in the fourth quarter. Comerica Bank now owns 9,802 shares of the company’s stock worth $427,000 after buying an additional 806 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Dr. Reddy’s Laboratories during the first quarter worth $5,893,000. Institutional investors own 15.36% of the company’s stock.

Institutional Ownership by Quarter for Dr. Reddy`s Laboratories (NYSE:RDY)

Dr. Reddy’s Laboratories Ltd (NYSE RDY) traded up 1.00% on Friday, reaching $41.58. 132,928 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $40.35 and a 200 day moving average price of $42.46. Dr. Reddy’s Laboratories Ltd has a 12-month low of $37.03 and a 12-month high of $54.73. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 37.19 and a beta of 0.36.

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Separately, Deutsche Bank AG upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. Dr. Reddy’s Laboratories has a consensus rating of “Sell” and an average price target of $51.45.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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