JPMorgan Chase & Co. Sells 138,035 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

JPMorgan Chase & Co. decreased its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 21.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 500,723 shares of the company’s stock after selling 138,035 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dr. Reddy’s Laboratories were worth $39,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in Dr. Reddy’s Laboratories during the third quarter valued at approximately $3,459,000. Frank Rimerman Advisors LLC acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth about $2,633,000. Caprock Group LLC bought a new position in shares of Dr. Reddy’s Laboratories in the second quarter worth about $997,000. Natixis Advisors LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $777,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Dr. Reddy’s Laboratories by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after purchasing an additional 114,294 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RDY. 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. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Finally, Barclays cut their price target on 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 Price Performance

Shares of NYSE:RDY opened at $15.44 on Monday. The firm has a market cap of $12.89 billion, a PE ratio of 24.66 and a beta of 0.53. Dr. Reddy’s Laboratories Limited has a 52 week low of $13.43 and a 52 week high of $16.89. The firm’s fifty day moving average is $14.78 and its 200-day moving average is $15.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92.

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.