Ballentine Partners LLC Reduces Stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Ballentine Partners LLC decreased its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 28.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,108 shares of the company's stock after selling 29,607 shares during the quarter. Ballentine Partners LLC's holdings in Dr. Reddy's Laboratories were worth $991,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RDY. Bank of New York Mellon Corp raised its holdings in Dr. Reddy's Laboratories by 271.5% in the fourth quarter. Bank of New York Mellon Corp now owns 82,006 shares of the company's stock worth $1,295,000 after purchasing an additional 59,930 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Dr. Reddy's Laboratories by 400.0% in the fourth quarter. Victory Capital Management Inc. now owns 81,460 shares of the company's stock worth $1,286,000 after purchasing an additional 65,168 shares in the last quarter. Atria Investments Inc bought a new position in Dr. Reddy's Laboratories in the fourth quarter worth $170,000. PNC Financial Services Group Inc. increased its holdings in shares of Dr. Reddy's Laboratories by 404.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 38,644 shares of the company's stock valued at $610,000 after acquiring an additional 30,990 shares in the last quarter. Finally, Amundi increased its holdings in shares of Dr. Reddy's Laboratories by 556.8% during the fourth quarter. Amundi now owns 98,450 shares of the company's stock valued at $1,556,000 after acquiring an additional 83,460 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Up 0.6%

Shares of NYSE:RDY traded up $0.09 on Thursday, hitting $14.70. 1,210,299 shares of the company traded hands, compared to its average volume of 1,514,699. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.89. The company has a market cap of $12.28 billion, a PE ratio of 22.28, a PEG ratio of 5.18 and a beta of 0.33. The stock has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $14.14.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on RDY. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Company 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.