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

Geode Capital Management LLC raised its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 109.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,254 shares of the company’s stock after acquiring an additional 6,920 shares during the quarter. Geode Capital Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake 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 worth $36,000 after purchasing an additional 137 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Dr. Reddy’s Laboratories during the third quarter valued at approximately $60,000. Van ECK Associates Corp lifted its holdings in shares of Dr. Reddy’s Laboratories by 64.3% during 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 boosted its position in shares of Dr. Reddy’s Laboratories by 83.2% in the 3rd 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 in the 3rd quarter worth approximately $207,000. 3.85% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Trading Up 0.9 %

Shares of NYSE:RDY opened at $15.81 on Friday. The stock has a 50 day moving average of $14.81 and a 200 day moving average of $15.53. The company has a market cap of $13.20 billion, a PE ratio of 25.26 and a beta of 0.51. Dr. Reddy’s Laboratories Limited has a 12-month low of $13.43 and a 12-month high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

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

Dr. Reddy’s Laboratories Company 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.