Allianz Asset Management GmbH lowered its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 32.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 321,271 shares of the company's stock after selling 154,178 shares during the period. Allianz Asset Management GmbH's holdings in Dr. Reddy's Laboratories were worth $4,238,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Wealth Alliance LLC acquired a new position in shares of Dr. Reddy's Laboratories in the first quarter valued at approximately $133,000. Cullen Frost Bankers Inc. acquired a new position in shares of Dr. Reddy's Laboratories in the first quarter valued at approximately $62,000. Bridgewater Advisors Inc. boosted its stake in shares of Dr. Reddy's Laboratories by 2.8% in the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after buying an additional 880 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Dr. Reddy's Laboratories in the first quarter valued at approximately $160,000. Finally, Cerity Partners LLC boosted its stake in shares of Dr. Reddy's Laboratories by 85.6% in the first quarter. Cerity Partners LLC now owns 192,217 shares of the company's stock valued at $2,535,000 after buying an additional 88,628 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.
Dr. Reddy's Laboratories Stock Up 0.2%
RDY opened at $14.71 on Tuesday. The business's fifty day moving average is $14.96 and its two-hundred day moving average is $14.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 5.65 and a beta of 0.33. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 17.25% and a net margin of 16.99%. The business had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. Analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on RDY shares. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the stock from $14.44 to $16.90 in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Dr. Reddy's Laboratories currently has a consensus rating of "Buy" and a consensus price target of $16.95.
Read Our Latest Stock Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Profile
(
Free Report)
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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