Royal Bank of Canada lifted its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 34.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,460,613 shares of the company’s stock after buying an additional 893,138 shares during the quarter. Royal Bank of Canada owned about 2.09% of Dr. Reddy’s Laboratories worth $145,831,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Dr. Reddy’s Laboratories by 17.8% in the 1st quarter. Geode Capital Management LLC now owns 49,928 shares of the company’s stock worth $1,989,000 after purchasing an additional 7,531 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Dr. Reddy’s Laboratories by 41.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,800 shares of the company’s stock valued at $313,000 after purchasing an additional 2,300 shares during the period. Hexavest Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 711.4% in the 2nd quarter. Hexavest Inc. now owns 17,510 shares of the company’s stock valued at $738,000 after purchasing an additional 15,352 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at $297,000. Finally, First Trust Advisors LP lifted its stake in shares of Dr. Reddy’s Laboratories by 101.6% in the 2nd quarter. First Trust Advisors LP now owns 334,993 shares of the company’s stock valued at $14,117,000 after purchasing an additional 168,851 shares during the period. 15.29% of the stock is owned by institutional investors and hedge funds.

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RDY has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub lowered shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. CLSA cut Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley raised Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a research report on Thursday, September 21st. Finally, Jefferies Group LLC restated a “sell” rating and set a $31.62 target price on shares of Dr. Reddy’s Laboratories in a report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.62.

Shares of Dr. Reddy’s Laboratories Ltd (RDY) traded up 2.24% during mid-day trading on Monday, reaching $36.48. 84,396 shares of the company’s stock traded hands. The firm has a 50-day moving average of $32.97 and a 200 day moving average of $38.79. Dr. Reddy’s Laboratories Ltd has a 12-month low of $29.83 and a 12-month high of $50.10. The company has a market cap of $6.05 billion, a P/E ratio of 34.06 and a beta of 0.36.

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).

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

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