Corient IA LLC Takes $330,000 Position in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Corient IA LLC has acquired a new position in Dr. Reddy's Laboratories, buying 25,000 shares valued at approximately $330,000 in the first quarter.
• Several institutional investors have also increased their stakes in Dr. Reddy's Laboratories, reflecting growing interest in the company among hedge funds.
• Wall Street analysts have upgraded Dr. Reddy's Laboratories from "hold" to "buy" ratings, with an average target price of $16.95.

Corient IA LLC purchased a new position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company's stock, valued at approximately $330,000.

A number of other large investors also recently bought and sold shares of RDY. Allworth Financial LP raised its stake in shares of Dr. Reddy's Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after acquiring an additional 776 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Dr. Reddy's Laboratories by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock valued at $433,000 after acquiring an additional 831 shares during the period. Bridgewater Advisors Inc. raised its stake in shares of Dr. Reddy's Laboratories by 2.8% in the 1st quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after acquiring an additional 880 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Dr. Reddy's Laboratories by 6.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock valued at $183,000 after acquiring an additional 883 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Dr. Reddy's Laboratories by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock valued at $524,000 after acquiring an additional 1,099 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented 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 note on Thursday, June 5th. Zacks Research raised shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. HSBC raised shares of 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 research note on Thursday, June 5th. Finally, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Dr. Reddy's Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Up 0.7%

RDY stock traded up $0.0950 during mid-day trading on Friday, hitting $14.5150. 1,032,160 shares of the company were exchanged, compared to its average volume of 1,339,768. The company has a market capitalization of $12.12 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.29. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.77. The firm has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $14.03.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. On average, research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share 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.