Ameriprise Financial Inc. boosted its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,087 shares of the company’s stock after buying an additional 1,054 shares during the quarter. Ameriprise Financial Inc.’s holdings in Dr. Reddy’s Laboratories were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dalton Investments LLC grew its position in Dr. Reddy’s Laboratories by 16.2% during the second quarter. Dalton Investments LLC now owns 207,000 shares of the company’s stock worth $8,723,000 after buying an additional 28,800 shares during the period. Alliancebernstein L.P. grew its position in Dr. Reddy’s Laboratories by 16.4% during the second quarter. Alliancebernstein L.P. now owns 9,085 shares of the company’s stock worth $383,000 after buying an additional 1,277 shares during the period. Commonwealth Bank of Australia grew its position in Dr. Reddy’s Laboratories by 5.1% during the second quarter. Commonwealth Bank of Australia now owns 3,452,533 shares of the company’s stock worth $145,488,000 after buying an additional 168,818 shares during the period. Banque Pictet & Cie SA acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth about $624,000. Finally, ARGA Investment Management LP acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth about $303,000. Institutional investors own 15.11% of the company’s stock.

Shares of Dr. Reddy’s Laboratories Ltd (NYSE RDY) opened at $35.51 on Tuesday. The company has a market cap of $5,904.93, a P/E ratio of 34.57, a PEG ratio of 10.41 and a beta of 0.40. Dr. Reddy’s Laboratories Ltd has a 1 year low of $29.83 and a 1 year high of $49.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.46 and a quick ratio of 1.08.

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Several research analysts have weighed in on RDY shares. CLSA upgraded shares of Dr. Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Thursday, August 31st. Jefferies Group LLC restated a “sell” rating and set a $31.62 target price on shares of Dr. Reddy’s Laboratories in a research report on Sunday, September 3rd. BidaskClub lowered shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Morgan Stanley upgraded shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Two equities research 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 stock presently has a consensus rating of “Hold” and an average price target of $30.51.

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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