Ritholtz Wealth Management Sells 37,294 Shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Ritholtz Wealth Management decreased its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 46.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RDY. EverSource Wealth Advisors LLC raised its holdings in Dr. Reddy's Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after buying an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in Dr. Reddy's Laboratories by 400.0% during the fourth 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 in the last quarter. Farther Finance Advisors LLC raised its holdings in Dr. Reddy's Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after buying an additional 2,093 shares in the last quarter. Allworth Financial LP raised its holdings in Dr. Reddy's Laboratories by 447.8% during the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company's stock valued at $41,000 after buying an additional 2,230 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $48,000 after buying an additional 2,613 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy's Laboratories Stock Performance

Shares of Dr. Reddy's Laboratories stock traded up $0.03 during trading on Friday, reaching $15.22. The company's stock had a trading volume of 1,503,385 shares, compared to its average volume of 1,510,992. 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 business's fifty day moving average price is $14.41 and its 200-day moving average price is $14.13. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 6.26 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 posted 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 business 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, equities research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RDY. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their target price for the company from $14.44 to $16.90 in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Dr. Reddy's Laboratories has a consensus rating of "Buy" and a consensus target price of $16.95.

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.