Bessemer Group Inc. Raises Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Bessemer Group Inc. boosted its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 863,880 shares of the company's stock after purchasing an additional 81,024 shares during the quarter. Bessemer Group Inc. owned about 0.10% of Dr. Reddy's Laboratories worth $11,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ieq Capital LLC raised its position in shares of Dr. Reddy's Laboratories by 444.7% during the fourth quarter. Ieq Capital LLC now owns 20,753 shares of the company's stock valued at $328,000 after buying an additional 16,943 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Dr. Reddy's Laboratories by 271.5% during the fourth quarter. Bank of New York Mellon Corp now owns 82,006 shares of the company's stock worth $1,295,000 after acquiring an additional 59,930 shares during the last quarter. QRG Capital Management Inc. grew its stake in Dr. Reddy's Laboratories by 379.0% during the fourth quarter. QRG Capital Management Inc. now owns 45,283 shares of the company's stock valued at $715,000 after acquiring an additional 35,829 shares in the last quarter. SVB Wealth LLC bought a new stake in Dr. Reddy's Laboratories in the 4th quarter valued at $300,000. Finally, Fisher Asset Management LLC lifted its stake in Dr. Reddy's Laboratories by 402.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company's stock worth $38,981,000 after purchasing an additional 1,977,419 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Down 0.3%

Shares of RDY traded down $0.04 during trading hours on Monday, hitting $15.03. The company had a trading volume of 1,449,498 shares, compared to its average volume of 1,518,198. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89. The company's fifty day moving average price is $14.63 and its two-hundred day moving average price is $14.17. The company has a market capitalization of $12.55 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 5.32 and a beta of 0.33. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results 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 net margin of 17.38% and a return on equity of 17.98%. The business had revenue of $996.17 million during the quarter, compared to analyst estimates of $83.70 billion. As a group, equities analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RDY has been the subject of a number of research reports. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research 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 upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. One equities 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's stock. Based on data from MarketBeat, the stock 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.