Assenagon Asset Management S.A. Lowers Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Assenagon Asset Management S.A. lowered its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 62.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,048 shares of the company’s stock after selling 100,204 shares during the period. Assenagon Asset Management S.A.’s holdings in Dr. Reddy’s Laboratories were worth $4,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RDY. QRG Capital Management Inc. boosted its position in shares of Dr. Reddy’s Laboratories by 2.3% in the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after acquiring an additional 180 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock valued at $1,065,000 after acquiring an additional 232 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Dr. Reddy’s Laboratories by 2.4% in the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Dr. Reddy’s Laboratories by 54.7% in the 1st quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock worth $53,000 after buying an additional 255 shares during the period. Finally, CWM LLC boosted its stake in Dr. Reddy’s Laboratories by 10.5% during the second quarter. CWM LLC now owns 2,855 shares of the company’s stock worth $218,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.3 %

RDY opened at $81.77 on Monday. The company has a quick ratio of 1.92, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $77.77 and a 200-day moving average price of $74.69. Dr. Reddy’s Laboratories Limited has a twelve month low of $63.72 and a twelve month high of $84.46. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.81 and a beta of 0.56.

Analyst Ratings Changes

RDY has been the topic of several analyst reports. Barclays upped their target price on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th.

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.