National Bank of Canada FI Cuts Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

National Bank of Canada FI reduced its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 98.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,199 shares of the company’s stock after selling 180,921 shares during the period. National Bank of Canada FI’s holdings in Dr. Reddy’s Laboratories were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RDY. Frank Rimerman Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter valued at approximately $2,633,000. Caprock Group LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth $997,000. Natixis Advisors LLC bought a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth about $777,000. Dimensional Fund Advisors LP raised its position 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 buying an additional 114,294 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at about $557,000. 3.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $14.69 on Tuesday. The stock has a market cap of $12.26 billion, a PE ratio of 23.32 and a beta of 0.53. Dr. Reddy’s Laboratories Limited has a 12 month low of $13.26 and a 12 month high of $16.89. The company has a 50-day moving average price of $14.86 and a 200 day moving average price of $15.38. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

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.