Vanguard Group Inc. raised its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 5.4% during the first quarter, Holdings Channel reports. The firm owned 1,549,609 shares of the company’s stock after buying an additional 79,150 shares during the period. Vanguard Group Inc.’s holdings in Dr. Reddy’s Laboratories were worth $62,217,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RDY. Sumitomo Life Insurance Co. raised its position in 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 valued at $169,000 after buying an additional 1,200 shares during the period. Russell Investments Group Ltd. raised its position in Dr. Reddy’s Laboratories by 99.1% in the first quarter. Russell Investments Group Ltd. now owns 54,626 shares of the company’s stock valued at $2,194,000 after buying an additional 27,189 shares during the period. Wetherby Asset Management Inc. raised its position in 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 valued at $340,000 after buying an additional 711 shares during the period. Pillar Pacific Capital Management LLC raised its position in Dr. Reddy’s Laboratories by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 24,270 shares of the company’s stock valued at $975,000 after buying an additional 1,720 shares during the period. Finally, First Trust Advisors LP raised its position in Dr. Reddy’s Laboratories by 35.8% in the first quarter. First Trust Advisors LP now owns 166,142 shares of the company’s stock valued at $6,671,000 after buying an additional 43,755 shares during the period. Institutional investors and hedge funds own 15.17% of the company’s stock.

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) traded down 1.91% during midday trading on Monday, hitting $33.91. 32,061 shares of the stock traded hands. The stock has a 50-day moving average of $41.13 and a 200 day moving average of $41.55. Dr. Reddy’s Laboratories Ltd has a 52-week low of $33.80 and a 52-week high of $50.10. The firm has a market cap of $5.62 billion, a PE ratio of 31.87 and a beta of 0.33.

The firm 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 dividend of $0.294 per share. The ex-dividend date is Thursday, July 13th. Dr. Reddy’s Laboratories’s payout ratio is 27.88%.

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RDY has been the subject of several research reports. 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. Zacks Investment Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, July 14th. CLSA lowered shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a research report on Friday, July 28th. Finally, BidaskClub lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold”.

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

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