Public Employees Retirement System of Ohio Invests $464,000 in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Public Employees Retirement System of Ohio purchased a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,843 shares of the company’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after buying an additional 137 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the 3rd quarter worth approximately $60,000. Van ECK Associates Corp increased its stake in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares in the last quarter. GAMMA Investing LLC raised its holdings in Dr. Reddy’s Laboratories by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in Dr. Reddy’s Laboratories during the third quarter worth $207,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analyst Ratings Changes

RDY has been the subject of a number of research analyst reports. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday. Barclays dropped their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Up 1.7 %

Shares of NYSE:RDY opened at $15.37 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $12.83 billion, a P/E ratio of 24.55 and a beta of 0.53. Dr. Reddy’s Laboratories Limited has a 52-week low of $13.31 and a 52-week high of $16.89. The stock’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $15.38.

About Dr. Reddy’s Laboratories

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.