World Investment Advisors LLC acquired a new stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,539 shares of the company's stock, valued at approximately $3,459,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of RDY. Frank Rimerman Advisors LLC purchased a new position in Dr. Reddy's Laboratories in the 2nd quarter worth $2,633,000. Caprock Group LLC acquired a new stake in shares of Dr. Reddy's Laboratories during the second quarter worth about $997,000. Natixis Advisors LLC purchased a new stake in Dr. Reddy's Laboratories in the second quarter valued at approximately $777,000. Dimensional Fund Advisors LP boosted its position in Dr. Reddy's Laboratories by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company's stock valued at $76,455,000 after buying an additional 114,294 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Dr. Reddy's Laboratories in the 2nd quarter worth approximately $557,000. 3.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Barclays dropped their price objective on shares of Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a report on Friday, December 6th.
Get Our Latest Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Performance
Dr. Reddy's Laboratories stock traded up $0.06 during mid-day trading on Friday, hitting $14.46. The company had a trading volume of 1,464,535 shares, compared to its average volume of 1,068,629. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 22.95 and a beta of 0.53. The company's fifty day moving average is $14.88 and its 200-day moving average is $15.36. Dr. Reddy's Laboratories Limited has a 12-month low of $13.26 and a 12-month high of $16.89.
Dr. Reddy's Laboratories Profile
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Free Report)
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.
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