Migdal Insurance & Financial Holdings Ltd. Lowers Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,000 shares of the company's stock after selling 25,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Dr. Reddy's Laboratories were worth $989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Dr. Reddy's Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after purchasing an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its holdings in shares of 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 worth $32,000 after acquiring an additional 1,600 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Dr. Reddy's Laboratories by 461.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after acquiring an additional 2,093 shares during the period. Tower Research Capital LLC TRC raised its position in Dr. Reddy's Laboratories by 623.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock worth $48,000 after acquiring an additional 2,613 shares during the last quarter. Finally, Legacy Advisors LLC purchased a new stake in Dr. Reddy's Laboratories in the first quarter valued at approximately $41,000. 3.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the topic of a number of analyst reports. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report 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. Finally, HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Dr. Reddy's Laboratories currently has an average rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Stock Down 1.4%

NYSE RDY traded down $0.21 during trading on Friday, hitting $14.48. The stock had a trading volume of 1,074,020 shares, compared to its average volume of 1,519,856. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92. The company has a market capitalization of $12.09 billion, a PE ratio of 21.94, a P/E/G ratio of 5.13 and a beta of 0.33. Dr. Reddy's Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.89. The company's 50-day moving average price is $14.91 and its two-hundred day moving average price is $14.12.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy's Laboratories had a return on equity of 17.98% and a net margin of 17.38%. As a group, sell-side analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current 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.