Ballentine Partners LLC Lowers Stock Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Ballentine Partners LLC lowered its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,108 shares of the company's stock after selling 29,607 shares during the period. Ballentine Partners LLC's holdings in Dr. Reddy's Laboratories were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Dr. Reddy's Laboratories by 28.4% in the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after purchasing an additional 776 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Dr. Reddy's Laboratories by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after buying an additional 831 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Dr. Reddy's Laboratories by 6.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock worth $183,000 after buying an additional 883 shares during the last quarter. Foster Group Inc. increased its holdings in Dr. Reddy's Laboratories by 8.3% during the first quarter. Foster Group Inc. now owns 14,838 shares of the company's stock worth $196,000 after buying an additional 1,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Dr. Reddy's Laboratories by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,826 shares of the company's stock worth $262,000 after buying an additional 1,160 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE:RDY opened at $14.51 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $12.11 billion, a PE ratio of 21.98, a P/E/G ratio of 5.14 and a beta of 0.33. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.89. The company has a 50-day moving average price of $14.80 and a two-hundred day moving average price of $14.15.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RDY shares. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. HSBC upgraded 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 report 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 report on Thursday, June 5th. One 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 stock. Based on data from MarketBeat, Dr. Reddy's Laboratories has an average rating of "Buy" and a consensus price target of $16.95.

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.

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