Bluestein R H & Co. Reduces Stake in Dr. Reddy’s Laboratories Ltd (RDY)

Bluestein R H & Co. lowered its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 5,000 shares during the quarter. Bluestein R H & Co.’s holdings in Dr. Reddy’s Laboratories were worth $535,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $144,000. Airain ltd acquired a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $223,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $237,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $286,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Dr. Reddy’s Laboratories in the first quarter valued at approximately $297,000. 13.73% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley raised shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a research report on Thursday, September 21st. Jefferies Group decreased their target price on shares of Dr. Reddy’s Laboratories from $31.62 to $30.51 and set an “underperform” rating for the company in a research report on Wednesday, November 1st. 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. Finally, CLSA raised shares of Dr. Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Dr. Reddy’s Laboratories presently has an average rating of “Hold” and an average target price of $30.51.

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) traded up $0.13 during trading hours on Tuesday, reaching $34.90. 215,700 shares of the company’s stock were exchanged, compared to its average volume of 308,012. The firm has a market cap of $5,765.64, a P/E ratio of 33.76, a PEG ratio of 10.17 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.46 and a quick ratio of 1.08. Dr. Reddy’s Laboratories Ltd has a twelve month low of $29.83 and a twelve month high of $47.75.

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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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