Ritholtz Wealth Management trimmed its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 46.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,301 shares of the company's stock after selling 37,294 shares during the period. Ritholtz Wealth Management's holdings in Dr. Reddy's Laboratories were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Dr. Reddy's Laboratories by 403.1% in the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after purchasing an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Dr. Reddy's Laboratories by 382.9% in the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock valued at $148,717,000 after purchasing an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd raised its position in shares of Dr. Reddy's Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after purchasing an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after purchasing an additional 4,301,212 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Dr. Reddy's Laboratories by 397.2% in the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after purchasing an additional 3,911,404 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on RDY shares. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Finally, HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $16.95.
View Our Latest Stock Report on RDY
Dr. Reddy's Laboratories Price Performance
Shares of NYSE RDY opened at $15.19 on Thursday. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 6.27 and a beta of 0.33. The business has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $14.12.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.
Dr. Reddy's Laboratories Company Profile
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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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