Allspring Global Investments Holdings LLC Has $1.25 Million Stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 82.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,682 shares of the company's stock after selling 439,622 shares during the period. Allspring Global Investments Holdings LLC's holdings in Dr. Reddy's Laboratories were worth $1,246,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RDY. Royal Bank of Canada boosted its holdings in Dr. Reddy's Laboratories by 403.1% during the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after buying an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Dr. Reddy's Laboratories by 382.9% in the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock worth $148,717,000 after purchasing an additional 7,467,979 shares during the period. Aikya Investment Management Ltd boosted its stake in Dr. Reddy's Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock worth $88,590,000 after purchasing an additional 4,523,303 shares during the period. Dimensional Fund Advisors LP boosted its stake in Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after purchasing an additional 4,301,212 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Dr. Reddy's Laboratories by 397.2% in the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock worth $77,311,000 after purchasing an additional 3,911,404 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Dr. Reddy's Laboratories Stock Down 0.1%

RDY stock traded down $0.02 during midday trading on Wednesday, reaching $14.75. The company had a trading volume of 1,483,192 shares, compared to its average volume of 1,520,053. Dr. Reddy's Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $12.31 billion, a P/E ratio of 22.35, a PEG ratio of 5.33 and a beta of 0.33. The company has a 50 day moving average of $14.76 and a two-hundred day moving average of $14.18.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $996.17 million during the quarter, compared to the consensus estimate of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. On average, equities research analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

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.