Dr. Reddy’s Laboratories Ltd (NYSE:RDY) reached a new 52-week low on Thursday . The company traded as low as $30.36 and last traded at $30.32, with a volume of 493,896 shares traded. The stock had previously closed at $32.25.

A number of research firms have weighed in on RDY. BidaskClub lowered shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a report on Tuesday. CLSA lowered shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold”.

The stock has a market cap of $5.03 billion, a PE ratio of 28.40 and a beta of 0.33. The stock has a 50-day moving average price of $39.95 and a 200 day moving average price of $41.19.

The company also recently announced a None dividend, which will be paid on Thursday, August 10th. Stockholders of record on Monday, July 17th will be issued a $0.294 dividend. The ex-dividend date is Thursday, July 13th. Dr. Reddy’s Laboratories’s dividend payout ratio is 27.88%.

Several hedge funds and other institutional investors have recently modified their holdings of RDY. Fisher Asset Management LLC boosted its position in shares of Dr. Reddy’s Laboratories by 0.8% in the second quarter. Fisher Asset Management LLC now owns 5,599,434 shares of the company’s stock valued at $235,960,000 after buying an additional 46,872 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Dr. Reddy’s Laboratories by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 3,452,533 shares of the company’s stock valued at $145,488,000 after buying an additional 168,818 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Dr. Reddy’s Laboratories by 5.4% in the first quarter. Vanguard Group Inc. now owns 1,549,609 shares of the company’s stock valued at $62,217,000 after buying an additional 79,150 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Dr. Reddy’s Laboratories by 101.6% in the second quarter. First Trust Advisors LP now owns 334,993 shares of the company’s stock valued at $14,117,000 after buying an additional 168,851 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of Dr. Reddy’s Laboratories by 7.2% in the first quarter. Credit Suisse AG now owns 324,616 shares of the company’s stock valued at $13,034,000 after buying an additional 21,939 shares in the last quarter. Hedge funds and other institutional investors own 15.17% of the company’s stock.

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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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