National Bank of Canada FI Lowers Holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY)

National Bank of Canada FI lessened its holdings in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 98.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,199 shares of the company's stock after selling 180,921 shares during the period. National Bank of Canada FI's holdings in Dr. Reddy's Laboratories were worth $254,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RDY. Summit Global Investments boosted its position in shares of Dr. Reddy's Laboratories by 3.7% during the second quarter. Summit Global Investments now owns 29,941 shares of the company's stock valued at $2,281,000 after buying an additional 1,081 shares during the period. Legacy Capital Group California Inc. purchased a new stake in shares of Dr. Reddy's Laboratories in the second quarter valued at approximately $204,000. Bank of New York Mellon Corp boosted its holdings in shares of Dr. Reddy's Laboratories by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 26,768 shares of the company's stock valued at $2,040,000 after purchasing an additional 489 shares during the period. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Dr. Reddy's Laboratories by 3.1% in the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company's stock valued at $470,000 after purchasing an additional 184 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Dr. Reddy's Laboratories by 23.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 31,500 shares of the company's stock valued at $2,375,000 after purchasing an additional 6,000 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RDY. Barclays reduced their price objective on shares of Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, December 6th.

Dr. Reddy's Laboratories Stock Down 1.5 %

Shares of RDY stock traded down $0.21 during trading hours on Tuesday, reaching $14.48. 1,604,395 shares of the company's stock were exchanged, compared to its average volume of 1,072,885. The stock's 50 day moving average is $14.86 and its 200-day moving average is $15.38. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 22.98 and a beta of 0.53. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Limited has a fifty-two week low of $13.26 and a fifty-two week high of $16.89.

Dr. Reddy's Laboratories Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's 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 dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.