US Bancorp DE decreased its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 78.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,530 shares of the company’s stock after selling 66,193 shares during the period. US Bancorp DE’s holdings in Dr. Reddy’s Laboratories were worth $781,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in shares of Dr. Reddy’s Laboratories by 40.0% in the first quarter. Sumitomo Life Insurance Co. now owns 4,200 shares of the company’s stock worth $169,000 after buying an additional 1,200 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Dr. Reddy’s Laboratories during the first quarter worth about $297,000. 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. 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. 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. Institutional investors own 15.17% of the company’s stock.

Dr. Reddy’s Laboratories Ltd (NYSE RDY) traded up 2.80% during mid-day trading on Friday, hitting $31.18. 502,009 shares of the company were exchanged. Dr. Reddy’s Laboratories Ltd has a 12 month low of $30.22 and a 12 month high of $50.10. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 29.17 and a beta of 0.33. The firm has a 50 day moving average price of $39.33 and a 200 day moving average price of $41.03.

The business also recently announced a None dividend, which was paid on Thursday, August 10th. Investors of record on Monday, July 17th were issued a dividend of $0.294 per share. The ex-dividend date of this dividend was Thursday, July 13th. Dr. Reddy’s Laboratories’s payout ratio is currently 27.88%.

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A number of analysts have issued reports on the stock. BidaskClub lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. CLSA lowered shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold”.

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).

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

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