National Bank of Canada FI Boosts Stock Position in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• National Bank of Canada FI increased its stake in Dr. Reddy's Laboratories by 331.2% during the first quarter, owning 71,000 shares valued at approximately $936,000.
• HSBC upgraded the stock from a "hold" to a "buy" rating and raised the price target from $14.44 to $16.90, contributing to a consensus rating of "Buy" with a target price of $16.95.
• Dr. Reddy's Laboratories reported quarterly earnings of $0.20 per share, exceeding analysts' expectations and achieving significant revenue of $988.82 million within the period.

National Bank of Canada FI boosted its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 331.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,000 shares of the company's stock after buying an additional 54,536 shares during the quarter. National Bank of Canada FI's holdings in Dr. Reddy's Laboratories were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in shares of Dr. Reddy's Laboratories in the first quarter valued at about $26,000. Legacy Advisors LLC bought a new stake in shares of Dr. Reddy's Laboratories in the first quarter worth about $41,000. Tower Research Capital LLC TRC increased its holdings in Dr. Reddy's Laboratories by 623.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after purchasing an additional 2,613 shares during the period. Allworth Financial LP increased its holdings in Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after purchasing an additional 776 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Dr. Reddy's Laboratories during the 1st quarter valued at approximately $62,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RDY shares. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Up 1.9%

RDY traded up $0.2680 during trading on Thursday, reaching $14.3980. The stock had a trading volume of 1,653,790 shares, compared to its average volume of 1,341,112. 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 $12.02 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 5.69 and a beta of 0.29. The stock's 50 day moving average is $14.62 and its two-hundred day moving average is $14.02. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.77.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. As a group, analysts expect 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.