Hanson & Doremus Investment Management Sells 880 Shares of Dr. Reddy’s Laboratories Ltd (RDY)

Hanson & Doremus Investment Management reduced its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 6.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,292 shares of the company’s stock after selling 880 shares during the period. Hanson & Doremus Investment Management’s holdings in Dr. Reddy’s Laboratories were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in shares of Dr. Reddy’s Laboratories by 0.9% in the first quarter. World Asset Management Inc now owns 10,345 shares of the company’s stock worth $415,000 after buying an additional 90 shares during the last quarter. Comerica Bank raised its stake in shares of Dr. Reddy’s Laboratories by 1.0% in the first quarter. Comerica Bank now owns 9,898 shares of the company’s stock worth $403,000 after buying an additional 96 shares during the last quarter. Saturna Capital CORP raised its stake in shares of Dr. Reddy’s Laboratories by 2.0% in the first quarter. Saturna Capital CORP now owns 18,150 shares of the company’s stock worth $729,000 after buying an additional 350 shares during the last quarter. Hansberger Growth Investors LP raised its stake in shares of Dr. Reddy’s Laboratories by 0.5% in the first quarter. Hansberger Growth Investors LP now owns 69,322 shares of the company’s stock worth $2,783,000 after buying an additional 355 shares during the last quarter. 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 last quarter. Hedge funds and other institutional investors own 15.25% of the company’s stock.

Shares of Dr. Reddy’s Laboratories Ltd (RDY) opened at 30.75 on Friday. Dr. Reddy’s Laboratories Ltd has a 52-week low of $30.22 and a 52-week high of $50.10. The stock’s 50 day moving average price is $37.81 and its 200-day moving average price is $40.55. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 28.77 and a beta of 0.33.

The firm 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 was Thursday, July 13th. Dr. Reddy’s Laboratories’s payout ratio is 27.88%.

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

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

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