Dr. Reddy’s Laboratories Limited (NYSE:RDY) Position Raised by State Street Corp

State Street Corp grew its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 909,905 shares of the company’s stock after purchasing an additional 16,641 shares during the quarter. State Street Corp’s holdings in Dr. Reddy’s Laboratories were worth $72,292,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP increased its stake in shares of Dr. Reddy’s Laboratories by 18.0% in the third quarter. Quantinno Capital Management LP now owns 20,237 shares of the company’s stock valued at $1,608,000 after purchasing an additional 3,094 shares during the period. Pinpoint Asset Management Ltd acquired a new stake in Dr. Reddy’s Laboratories in the 3rd quarter valued at approximately $308,000. Glenmede Trust Co. NA bought a new stake in Dr. Reddy’s Laboratories during the 3rd quarter valued at $207,000. Townsquare Capital LLC bought a new stake in Dr. Reddy’s Laboratories during the 3rd quarter valued at $286,000. Finally, BNP Paribas Financial Markets boosted its position in Dr. Reddy’s Laboratories by 30.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 409,440 shares of the company’s stock worth $32,530,000 after acquiring an additional 96,339 shares during the period. Institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDY. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays lowered their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th.

Dr. Reddy’s Laboratories Stock Performance

RDY opened at $14.48 on Wednesday. The business has a 50 day moving average price of $14.86 and a two-hundred day moving average price of $15.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 22.98 and a beta of 0.53. Dr. Reddy’s Laboratories Limited has a 1-year low of $13.26 and a 1-year 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.