CenterBook Partners LP Invests $258,000 in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

CenterBook Partners LP bought a new position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,565 shares of the company's stock, valued at approximately $258,000.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after purchasing an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC grew its stake in Dr. Reddy's Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock worth $148,717,000 after purchasing an additional 7,467,979 shares during the period. Aikya Investment Management Ltd grew its stake in Dr. Reddy's Laboratories by 416.1% during the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock worth $88,590,000 after purchasing an additional 4,523,303 shares during the period. Dimensional Fund Advisors LP grew its stake in Dr. Reddy's Laboratories by 405.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after purchasing an additional 4,301,212 shares during the period. Finally, Vanguard Group Inc. grew its stake in Dr. Reddy's Laboratories by 397.2% in the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after acquiring an additional 3,911,404 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RDY has been the topic of a number of recent analyst reports. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the stock from $14.44 to $16.90 in a report on Thursday, June 5th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Stock Performance

NYSE RDY traded down $0.16 during trading on Tuesday, reaching $14.40. The company's stock had a trading volume of 585,230 shares, compared to its average volume of 1,516,381. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92. The business's fifty day moving average price is $14.91 and its 200-day moving average price is $14.11. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.89. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 5.13 and a beta of 0.33.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly 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. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. The company had revenue of $996.17 million for the quarter, compared to the consensus estimate of $83.70 billion. As a group, analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

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.