Dr. Reddys Holdings Ltd

recently disclosed that they own a 26.8% stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, October 18th. The investor owns 44,398,828 shares of the stock worth approximately $1,618,337,281. The reporting parties listed on the disclosure included Dr Reddy’s Holdings Limited (formerly Dr Reddy’s Holdings Private Limited), APS Trust, Mr GV Prasad and Mr K Satish Reddy. The disclosure is available through the SEC website at this link.

Dr. Reddys Holdings Ltd

provided the following explanation of their ownership:

N/A

Several other large investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at about $286,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Dr. Reddy’s Laboratories by 0.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,160 shares of the company’s stock worth $582,000 after purchasing an additional 60 shares during the last quarter. State Street Corp lifted its stake in Dr. Reddy’s Laboratories by 20.3% in the second quarter. State Street Corp now owns 629,903 shares of the company’s stock worth $26,545,000 after purchasing an additional 106,321 shares during the last quarter. Lenox Wealth Management Inc. bought a new stake in Dr. Reddy’s Laboratories in the second quarter worth about $409,000. Finally, Royal Bank of Canada lifted its stake in Dr. Reddy’s Laboratories by 34.8% in the second quarter. Royal Bank of Canada now owns 3,460,613 shares of the company’s stock worth $145,831,000 after purchasing an additional 893,138 shares during the last quarter. 15.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Dr. Reddy’s Laboratories Ltd (NYSE RDY) traded down 0.63% during mid-day trading on Wednesday, reaching $36.22. 274,309 shares of the company’s stock traded hands. The company’s 50-day moving average price is $35.01 and its 200-day moving average price is $38.18. Dr. Reddy’s Laboratories Ltd has a 12-month low of $29.83 and a 12-month high of $50.10. The stock has a market capitalization of $6.01 billion, a PE ratio of 33.82 and a beta of 0.36.

RDY has been the subject of several analyst reports. CLSA raised shares of Dr. Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research note on Thursday, August 31st. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub downgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “sell” rating and issued a $31.62 price objective on shares of Dr. Reddy’s Laboratories in a research note on Sunday, September 3rd. Finally, Morgan Stanley raised shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.62.

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Dr. Reddy’s Laboratories Company Profile

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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