CenterBook Partners LP Takes Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

CenterBook Partners LP bought a new stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,565 shares of the company's stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company's stock valued at $65,985,000 after buying an additional 106,457 shares in the last quarter. Costello Asset Management INC acquired a new position in Dr. Reddy's Laboratories in the first quarter valued at $26,000. PNC Financial Services Group Inc. grew its holdings in shares of Dr. Reddy's Laboratories by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock worth $524,000 after purchasing an additional 1,099 shares during the last quarter. Thornburg Investment Management Inc. increased its position in shares of Dr. Reddy's Laboratories by 1.8% during the first quarter. Thornburg Investment Management Inc. now owns 71,001 shares of the company's stock worth $937,000 after purchasing an additional 1,250 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Dr. Reddy's Laboratories by 10.0% during the first quarter. LPL Financial LLC now owns 140,918 shares of the company's stock worth $1,859,000 after purchasing an additional 12,792 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Performance

Shares of Dr. Reddy's Laboratories stock traded down $0.21 on Friday, reaching $14.48. 1,074,020 shares of the stock were exchanged, compared to its average volume of 1,519,856. The firm has a market capitalization of $12.09 billion, a PE ratio of 21.94, a PEG ratio of 5.13 and a beta of 0.33. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.89. The business has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $14.12. 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 posted 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. The business had revenue of $996.17 million during the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a return on equity of 17.98% and a net margin of 17.38%. As a group, research analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDY has been the topic of several research analyst reports. Hsbc Global Res raised 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 report on Thursday, May 8th. Finally, HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. One research 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's stock. According to MarketBeat.com, Dr. Reddy's Laboratories has a consensus rating of "Buy" and an average target price 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.