Hexavest Inc. lessened its stake in Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 14.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,634 shares of the company’s stock after selling 5,816 shares during the quarter. Hexavest Inc.’s holdings in Dr.Reddy’s Laboratories were worth $1,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in Dr.Reddy’s Laboratories by 4.9% in the 2nd quarter. Northern Trust Corp now owns 380,284 shares of the company’s stock valued at $12,245,000 after buying an additional 17,599 shares during the period. Verition Fund Management LLC bought a new stake in Dr.Reddy’s Laboratories in the second quarter worth approximately $309,000. Jane Street Group LLC bought a new stake in Dr.Reddy’s Laboratories in the second quarter worth approximately $4,332,000. Advisors Asset Management Inc. grew its position in Dr.Reddy’s Laboratories by 29,814.7% in the second quarter. Advisors Asset Management Inc. now owns 863,638 shares of the company’s stock worth $119,000 after acquiring an additional 860,751 shares in the last quarter. Finally, Millennium Management LLC grew its position in Dr.Reddy’s Laboratories by 1,941.4% in the second quarter. Millennium Management LLC now owns 304,877 shares of the company’s stock worth $9,817,000 after acquiring an additional 289,942 shares in the last quarter. Hedge funds and other institutional investors own 12.27% of the company’s stock.

RDY stock opened at $33.17 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.64 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 32.84 and a beta of 0.13. Dr.Reddy’s Laboratories Ltd has a 12 month low of $28.13 and a 12 month high of $39.96.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Thursday, July 26th. The company reported $0.40 EPS for the quarter. The company had revenue of $543.00 million during the quarter, compared to the consensus estimate of $542.20 million. Dr.Reddy’s Laboratories had a net margin of 9.41% and a return on equity of 11.74%. On average, equities research analysts predict that Dr.Reddy’s Laboratories Ltd will post 1.33 EPS for the current fiscal year.

Several research firms have commented on RDY. Zacks Investment Research downgraded shares of Dr.Reddy’s Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. ValuEngine raised shares of Dr.Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th.

About Dr.Reddy’s Laboratories

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosage with therapeutic equivalence to branded formulations.

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

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