Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 47.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,590 shares of the company’s stock after selling 10,400 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dr. Reddy’s Laboratories were worth $806,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of Dr. Reddy’s Laboratories by 19.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,428,120 shares of the company’s stock worth $75,705,000 after purchasing an additional 228,587 shares in the last quarter. Bank of Montreal Can raised its position in Dr. Reddy’s Laboratories by 224.1% during the second quarter. Bank of Montreal Can now owns 236,756 shares of the company’s stock valued at $12,285,000 after acquiring an additional 163,716 shares in the last quarter. Ninety One UK Ltd raised its position in Dr. Reddy’s Laboratories by 145.5% during the second quarter. Ninety One UK Ltd now owns 160,821 shares of the company’s stock valued at $8,525,000 after acquiring an additional 95,318 shares in the last quarter. Man Group plc raised its position in Dr. Reddy’s Laboratories by 55.5% during the second quarter. Man Group plc now owns 146,476 shares of the company’s stock valued at $7,765,000 after acquiring an additional 52,300 shares in the last quarter. Finally, Thomas White International Ltd. bought a new position in Dr. Reddy’s Laboratories during the second quarter valued at approximately $2,506,000. Institutional investors and hedge funds own 12.79% of the company’s stock.

RDY opened at $63.02 on Friday. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $33.33 and a fifty-two week high of $73.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 1.17. The firm’s fifty day moving average price is $67.12 and its two-hundred day moving average price is $59.25. The company has a market capitalization of $10.44 billion, a P/E ratio of 41.46 and a beta of 0.41.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.12. Dr. Reddy’s Laboratories had a net margin of 10.26% and a return on equity of 18.88%. On average, equities research analysts expect that Dr. Reddy’s Laboratories Limited will post 1.9 EPS for the current fiscal year.

Several equities analysts recently weighed in on the stock. Investec raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, September 18th. Bank of America raised shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “buy” rating in a research report on Friday, September 18th. ValuEngine raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Monday, November 2nd. Finally, Barclays lifted their price target on shares of Dr. Reddy’s Laboratories from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $60.50.

Dr. Reddy’s Laboratories Company Profile

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. Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide.

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

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