Alliancebernstein L.P. Acquires 1,277 Shares of Dr. Reddy’s Laboratories Ltd (RDY)

Alliancebernstein L.P. grew its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 16.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,085 shares of the company’s stock after purchasing an additional 1,277 shares during the period. Alliancebernstein L.P.’s holdings in Dr. Reddy’s Laboratories were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $144,000. Airain ltd acquired a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $223,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $237,000. ARGA Investment Management LP acquired a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $303,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Dr. Reddy’s Laboratories in the first quarter valued at approximately $297,000. Institutional investors own 15.25% of the company’s stock.

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A number of analysts have recently issued reports on RDY shares. BidaskClub downgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Jefferies Group LLC lowered their price objective on shares of Dr. Reddy’s Laboratories from $31.62 to $30.51 and set an “underperform” rating on the stock in a report on Wednesday, November 1st. CLSA downgraded shares of Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Morgan Stanley upgraded shares of Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and an average target price of $30.51.

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) opened at $35.91 on Wednesday. The firm has a market cap of $6,020.00, a price-to-earnings ratio of 35.68, a P/E/G ratio of 10.75 and a beta of 0.41. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $29.83 and a fifty-two week high of $49.68. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20.

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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