Dr. Reddy's Laboratories Ltd (NYSE:RDY) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 85.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,217 shares of the company's stock after purchasing an additional 88,628 shares during the period. Cerity Partners LLC's holdings in Dr. Reddy's Laboratories were worth $2,535,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. 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 during the period. 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 during the period. Legacy Advisors LLC purchased a new stake in shares of Dr. Reddy's Laboratories during the first quarter worth $41,000. 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 during the period. Finally, Allworth Financial LP increased its position in shares of Dr. Reddy's Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after acquiring an additional 776 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their target price for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Finally, Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Stock Performance

Shares of RDY stock traded up $0.24 during mid-day trading on Wednesday, hitting $14.65. 2,117,691 shares of the stock were exchanged, compared to its average volume of 1,527,139. The stock's fifty day simple moving average is $14.93 and its two-hundred day simple moving average is $14.10. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 5.17 and a beta of 0.33. Dr. Reddy's Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Dr. Reddy's Laboratories had a return on equity of 17.98% and a net margin of 17.38%. On average, analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current 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.