National Bank of Canada FI Has $936,000 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 grew its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 331.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,000 shares of the company's stock after buying an additional 54,536 shares during the period. National Bank of Canada FI's holdings in Dr. Reddy's Laboratories were worth $936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RDY. Costello Asset Management INC acquired a new position in Dr. Reddy's Laboratories in the 1st quarter worth $26,000. Legacy Advisors LLC acquired a new position in Dr. Reddy's Laboratories in the 1st quarter worth $41,000. Tower Research Capital LLC TRC boosted its stake in Dr. Reddy's Laboratories by 623.6% in the 4th 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 period. Allworth Financial LP boosted its stake in Dr. Reddy's Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after purchasing an additional 776 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in Dr. Reddy's Laboratories in the 1st quarter worth $62,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RDY has been the subject of a number of research analyst reports. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. 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. 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. Finally, Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Stock Down 0.4%

Shares of Dr. Reddy's Laboratories stock traded down $0.0550 during trading hours on Tuesday, reaching $14.1750. 786,375 shares of the company's stock were exchanged, compared to its average volume of 1,853,651. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.85. The stock has a market cap of $11.83 billion, a P/E ratio of 21.48, a P/E/G ratio of 5.72 and a beta of 0.29. The company has a 50 day moving average of $14.73 and a two-hundred day moving average of $14.02. 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 (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, beating the consensus estimate of $0.18 by $0.02. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The business had revenue of $988.82 million during the quarter, compared to the consensus estimate of $88.27 billion. On average, sell-side analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Dr. Reddy's Laboratories 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.