9,340,290 Dr. Reddy's Laboratories Ltd $RDY Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Dr. Reddy’s Laboratories stake by 51.8%, selling 9.34 million shares and retaining 8.68 million shares valued at approximately $109.6 million.
• RDY opened at $13.19, with a market capitalization of about $11.01 billion; the stock has traded between $11.36 and $15.67 over the past year.
• The company’s latest quarterly results missed expectations, reporting EPS of $0.06 versus the $0.09 consensus estimate and revenue of $850.26 million. Analysts maintain a consensus “Hold” rating, despite some recent upgrades.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 51.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,680,810 shares of the company's stock after selling 9,340,290 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 1.04% of Dr. Reddy's Laboratories worth $109,552,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in Dr. Reddy's Laboratories by 67.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company's stock valued at $29,000 after acquiring an additional 821 shares during the period. KBC Group NV acquired a new stake in shares of Dr. Reddy's Laboratories during the 1st quarter worth approximately $76,000. EverSource Wealth Advisors LLC raised its position in shares of Dr. Reddy's Laboratories by 104.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,655 shares of the company's stock worth $78,000 after purchasing an additional 2,888 shares during the period. Enterprise Financial Services Corp bought a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter worth approximately $140,000. Finally, Resonant Capital Advisors LLC bought a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter worth approximately $146,000. Institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Performance

RDY opened at $13.19 on Thursday. The business's 50 day moving average is $12.32 and its 200-day moving average is $12.91. The stock has a market cap of $11.01 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.76 and a beta of 0.29. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. Dr. Reddy's Laboratories Ltd has a twelve month low of $11.36 and a twelve month high of $15.67.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%. The business had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. On average, analysts predict that Dr. Reddy's Laboratories Ltd will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RDY. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings lowered Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. BNP Paribas Exane upgraded Dr. Reddy's Laboratories to an "outperform" rating and set a $14.80 target price on the stock in a research note on Monday, October 12th. Finally, Citigroup upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "buy" rating and upped their price target for the stock from $1,040.00 to $1,450.00 in a research report on Tuesday, September 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Dr. Reddy's Laboratories presently has a consensus rating of "Hold" and a consensus target price of $732.40.

Dr. Reddy's Laboratories Profile

Dr. Reddy's Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy's offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.

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