Geode Capital Management LLC Buys 6,920 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Geode Capital Management LLC increased its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 109.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,254 shares of the company’s stock after purchasing an additional 6,920 shares during the quarter. Geode Capital Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,053,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RDY. Farther Finance Advisors LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after acquiring an additional 137 shares during the period. Venturi Wealth Management LLC bought a new stake in Dr. Reddy’s Laboratories during the third quarter valued at about $60,000. Van ECK Associates Corp grew its stake in Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares during the last quarter. GAMMA Investing LLC raised its holdings in Dr. Reddy’s Laboratories by 83.2% in 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 in the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Dr. Reddy’s Laboratories during the third quarter valued at about $207,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the subject of several analyst reports. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays decreased their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Trading Up 0.9 %

Shares of Dr. Reddy’s Laboratories stock opened at $15.81 on Friday. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $13.43 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92. The company has a market cap of $13.20 billion, a P/E ratio of 25.26 and a beta of 0.51. The firm has a 50-day simple moving average of $14.81 and a two-hundred day simple moving average of $15.53.

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.