Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew 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 valued at $29,000 after purchasing an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc boosted its stake 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 valued at $32,000 after buying an additional 1,600 shares during the period. Farther Finance Advisors LLC raised its holdings 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 valued at $40,000 after purchasing an additional 2,093 shares in the last quarter. Legacy Advisors LLC acquired a new position in shares of Dr. Reddy's Laboratories during the 1st quarter worth about $41,000. Finally, Tower Research Capital LLC TRC increased its stake in Dr. Reddy's Laboratories by 623.6% in the fourth 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 last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their target price 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 research report on Thursday, May 8th. Finally, 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $16.95.
Read Our Latest Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Down 0.9%
NYSE RDY traded down $0.13 during trading hours on Tuesday, hitting $14.43. The company had a trading volume of 1,579,518 shares, compared to its average volume of 1,522,170. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 5.23 and a beta of 0.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.37. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The firm's 50 day moving average is $14.93 and its 200 day moving average is $14.10.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $996.17 million for the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. Sell-side analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.
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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