Corient IA LLC Acquires New Holdings 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 bought a new position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,000 shares of the company's stock, valued at approximately $330,000.

A number of other hedge funds also recently bought and sold shares of the stock. Costello Asset Management INC purchased a new position in shares of Dr. Reddy's Laboratories in the 1st quarter worth approximately $26,000. Legacy Advisors LLC acquired a new stake in Dr. Reddy's Laboratories in the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC grew its holdings in Dr. Reddy's Laboratories by 623.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock worth $48,000 after purchasing an additional 2,613 shares during the last quarter. 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 purchasing an additional 776 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Dr. Reddy's Laboratories during the first quarter worth $62,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

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 upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, 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. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Trading Up 0.8%

NYSE:RDY opened at $14.22 on Monday. Dr. Reddy's Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.85. The firm has a fifty day simple moving average of $14.75 and a 200-day simple moving average of $14.01. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.87 billion, a P/E ratio of 21.55, a PEG ratio of 5.72 and a beta of 0.29.

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

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