DekaBank Deutsche Girozentrale bought a new position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,760 shares of the company’s stock, valued at approximately $237,000.

A number of other large investors have also recently modified their holdings of RDY. Bank of New York Mellon Corp purchased a new stake in shares of Dr. Reddy’s Laboratories during the first quarter worth $297,000. Alliancebernstein L.P. raised its stake in shares of Dr. Reddy’s Laboratories by 55.5% in the first quarter. Alliancebernstein L.P. now owns 7,808 shares of the company’s stock worth $313,000 after buying an additional 2,787 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Dr. Reddy’s Laboratories by 41.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,800 shares of the company’s stock worth $313,000 after buying an additional 2,300 shares during the period. Trexquant Investment LP purchased a new stake in shares of Dr. Reddy’s Laboratories during the second quarter worth $329,000. Finally, Wetherby Asset Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 9.1% in the first quarter. Wetherby Asset Management Inc. now owns 8,487 shares of the company’s stock worth $340,000 after buying an additional 711 shares during the period. 15.30% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Ltd (NYSE RDY) opened at 31.73 on Wednesday. Dr. Reddy’s Laboratories Ltd has a 52-week low of $29.83 and a 52-week high of $50.10. The stock has a 50 day moving average price of $36.48 and a 200 day moving average price of $40.02. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 29.60 and a beta of 0.33.

The company also recently disclosed a None dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 17th were given a $0.294 dividend. The ex-dividend date was Thursday, July 13th. Dr. Reddy’s Laboratories’s payout ratio is currently 27.88%.

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A number of equities research analysts have weighed in on RDY shares. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. Deutsche Bank AG raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. BidaskClub lowered Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, CLSA lowered Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Dr. Reddy’s Laboratories currently has a consensus rating of “Hold”.

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

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