Wells Fargo & Company MN lessened its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,458 shares of the company’s stock after selling 54 shares during the quarter. Wells Fargo & Company MN’s holdings in Dr. Reddy’s Laboratories were worth $862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RDY. SG Americas Securities LLC acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $144,000. Airain ltd acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $223,000. DekaBank Deutsche Girozentrale acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $237,000. Bank of New York Mellon Corp acquired a new position in Dr. Reddy’s Laboratories in the 1st quarter valued at approximately $297,000. Finally, ARGA Investment Management LP acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $303,000. Hedge funds and other institutional investors own 15.25% of the company’s stock.

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RDY has been the subject of several recent research reports. BidaskClub downgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC decreased their price objective on shares of Dr. Reddy’s Laboratories from $31.62 to $30.51 and set an “underperform” rating for the company in a report on Wednesday, November 1st. CLSA downgraded 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 Tuesday, September 26th. Finally, Morgan Stanley raised shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Dr. Reddy’s Laboratories has an average rating of “Hold” and an average price target of $30.51.

Dr. Reddy’s Laboratories Ltd (RDY) opened at $36.75 on Monday. The company has a market cap of $6,093.97, a P/E ratio of 35.68, a price-to-earnings-growth ratio of 10.75 and a beta of 0.40. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20.

Dr. Reddy’s Laboratories 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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