Allianz Asset Management GmbH Decreases Stock Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Allianz Asset Management GmbH decreased its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 32.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 quarter.

A number of other hedge funds also recently bought and sold shares of RDY. Glass Jacobson Investment Advisors llc raised its holdings in Dr. Reddy's Laboratories by 400.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after acquiring an additional 1,600 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Dr. Reddy's Laboratories in the 1st quarter valued at about $41,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 worth $48,000 after buying an additional 2,613 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after buying an additional 776 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Dr. Reddy's Laboratories during the 1st quarter worth approximately $62,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

RDY has been the subject of several research reports. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating 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 report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dr. Reddy's Laboratories has a consensus rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Trading Down 1.9%

RDY stock traded down $0.28 on Friday, hitting $13.95. 403,093 shares of the company were exchanged, compared to its average volume of 1,908,540. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.89. The business's fifty day moving average is $14.96 and its two-hundred day moving average is $14.06. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 5.64 and a beta of 0.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. As a group, research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

About Dr. Reddy's Laboratories

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.