Bessemer Group Inc. raised its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 863,880 shares of the company's stock after purchasing an additional 81,024 shares during the period. Bessemer Group Inc. owned approximately 0.10% of Dr. Reddy's Laboratories worth $11,395,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Dr. Reddy's Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after acquiring an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Dr. Reddy's Laboratories by 400.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy's Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after acquiring an additional 2,093 shares in the last quarter. Legacy Advisors LLC bought a new stake in shares of Dr. Reddy's Laboratories during the first quarter worth $41,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Dr. Reddy's Laboratories by 623.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock worth $48,000 after acquiring an additional 2,613 shares in the last quarter. Institutional investors own 3.85% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their target price for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Dr. Reddy's Laboratories has a consensus rating of "Buy" and a consensus target price of $16.95.
Read Our Latest Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Performance
Shares of RDY stock opened at $15.34 on Friday. The stock has a market cap of $12.80 billion, a P/E ratio of 23.23, a P/E/G ratio of 5.48 and a beta of 0.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.37. The company has a fifty day moving average price of $14.58 and a two-hundred day moving average price of $14.16. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. As a group, equities analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.
Dr. Reddy's Laboratories Profile
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Free Report)
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.
Further Reading
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