American Century Companies Inc. Acquires 144,530 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• American Century Companies Inc. increased its stake in Dr. Reddy's Laboratories (NYSE:RDY) by 13.8%, acquiring an additional 144,530 shares to hold 1,192,048 shares valued at $16.665 million (about 0.14% of the company).
• Other large institutional buyers also boosted positions—JPMorgan Chase rose 157.7% to 5.91 million shares and Robeco holds 13.08 million shares—leaving hedge funds and institutions with roughly 3.85% ownership of RDY.
• RDY traded near $14.49, reporting last-quarter EPS of $0.16 (in line with estimates) and a PE of ~18.8; analysts have an average rating of Hold and a consensus price target of $16.90.

American Century Companies Inc. grew its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,192,048 shares of the company's stock after purchasing an additional 144,530 shares during the quarter. American Century Companies Inc. owned approximately 0.14% of Dr. Reddy's Laboratories worth $16,665,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RDY. JPMorgan Chase & Co. increased its holdings in shares of Dr. Reddy's Laboratories by 157.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company's stock valued at $88,839,000 after acquiring an additional 3,617,435 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Dr. Reddy's Laboratories by 7.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company's stock valued at $182,921,000 after purchasing an additional 921,078 shares in the last quarter. Acadian Asset Management LLC boosted its position in Dr. Reddy's Laboratories by 43.8% during the second quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company's stock valued at $31,798,000 after purchasing an additional 644,835 shares in the last quarter. Creative Planning grew its stake in Dr. Reddy's Laboratories by 105.0% in the second quarter. Creative Planning now owns 1,094,932 shares of the company's stock valued at $16,457,000 after purchasing an additional 560,823 shares during the last quarter. Finally, Aikya Investment Management Ltd grew its stake in Dr. Reddy's Laboratories by 5.7% in the third quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company's stock valued at $93,876,000 after purchasing an additional 360,028 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Up 0.7%

Shares of RDY stock opened at $14.49 on Wednesday. The stock's 50-day simple moving average is $13.91 and its 200-day simple moving average is $14.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.38 and a current ratio of 1.88. The firm has a market capitalization of $12.09 billion, a PE ratio of 18.81, a P/E/G ratio of 13.07 and a beta of 0.34. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.17.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Dr. Reddy's Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The firm had revenue of $969.81 million during the quarter, compared to analysts' expectations of $963.84 million. Equities analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Dr. Reddy's Laboratories from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Dr. Reddy's Laboratories presently has an average rating of "Hold" and a consensus price target of $16.90.

Dr. Reddy's Laboratories Profile

Dr. Reddy's Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company's core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.

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