LGT Group Foundation Invests $282,000 in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Key Points

• LGT Group Foundation acquired a new stake in Dr. Reddy's Laboratories by purchasing 21,345 shares valued at approximately $282,000 during the 1st quarter.
• Several institutional investors, including Royal Bank of Canada and Dimensional Fund Advisors LP, significantly increased their stakes in Dr. Reddy's Laboratories during the 4th quarter.
• Dr. Reddy's Laboratories recently reported an earnings per share of $0.20, exceeding analysts' expectations of $0.18, with revenue reaching $988.82 million.

LGT Group Foundation acquired a new stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,345 shares of the company's stock, valued at approximately $282,000.

Other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in Dr. Reddy's Laboratories during the first quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its holdings in shares of Dr. Reddy's Laboratories by 623.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after buying an additional 2,613 shares in the last quarter. Legacy Advisors LLC bought a new stake in Dr. Reddy's Laboratories in the 1st quarter worth approximately $41,000. Allworth Financial LP boosted its stake in shares of Dr. Reddy's Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after purchasing an additional 776 shares in the last quarter. Finally, Natixis grew its holdings in shares of Dr. Reddy's Laboratories by 400.0% during the 4th quarter. Natixis now owns 4,355 shares of the company's stock valued at $69,000 after purchasing an additional 3,484 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Dr. Reddy's Laboratories presently has a consensus rating of "Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Up 0.8%

RDY stock traded up $0.11 during midday trading on Friday, hitting $14.22. The company's stock had a trading volume of 650,994 shares, compared to its average volume of 1,502,940. The firm's 50-day moving average is $14.75 and its 200-day moving average is $14.01. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.85. The company has a market cap of $11.87 billion, a PE ratio of 21.55, a P/E/G ratio of 5.72 and a beta of 0.29.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. On average, equities research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

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.