Vontobel Asset Management Inc. reduced its stake in shares of Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251,478 shares of the company’s stock after selling 19,038 shares during the period. Vontobel Asset Management Inc. owned about 0.76% of Dr. Reddy’s Laboratories worth $58,760,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RDY. Royal Bank of Canada raised its stake in shares of Dr. Reddy’s Laboratories by 206.9% in the first quarter. Royal Bank of Canada now owns 1,855,073 shares of the company’s stock valued at $83,830,000 after buying an additional 1,250,644 shares during the period. Airain ltd acquired a new stake in shares of Dr. Reddy’s Laboratories during the second quarter worth about $663,000. Global Thematic Partners LLC raised its stake in shares of Dr. Reddy’s Laboratories by 31.1% in the second quarter. Global Thematic Partners LLC now owns 376,750 shares of the company’s stock worth $19,301,000 after buying an additional 89,338 shares during the period. AXA raised its stake in shares of Dr. Reddy’s Laboratories by 18.8% in the first quarter. AXA now owns 9,500 shares of the company’s stock worth $429,000 after buying an additional 1,500 shares during the period. Finally, BB&T Securities LLC acquired a new stake in shares of Dr. Reddy’s Laboratories during the second quarter worth about $205,000. Hedge funds and other institutional investors own 16.55% of the company’s stock.

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

Shares of Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) traded down 1.68% during trading on Monday, hitting $45.52. The stock had a trading volume of 336,891 shares. Dr. Reddy’s Laboratories Ltd. has a one year low of $40.67 and a one year high of $54.73. The stock’s 50-day moving average price is $47.11 and its 200-day moving average price is $46.97. The company has a market cap of $7.53 billion, a P/E ratio of 49.86 and a beta of 0.69.

A number of analysts have issued reports on the stock. Zacks Investment Research lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong sell” rating in a research note on Thursday, July 28th. Jefferies Group lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and cut their price target for the stock from $45.00 to $41.90 in a research note on Wednesday, July 27th. TheStreet raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, November 14th. HSBC downgraded Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research report on Wednesday, July 27th. Finally, Credit Suisse Group AG downgraded Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 26th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $51.45.

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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