Robeco Institutional Asset Management B.V. cut its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,711,236 shares of the company's stock after selling 727,672 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 1.28% of Dr. Reddy's Laboratories worth $141,281,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of RDY. Rhumbline Advisers boosted its position in Dr. Reddy's Laboratories by 458.0% during the fourth quarter. Rhumbline Advisers now owns 430,062 shares of the company's stock worth $6,791,000 after acquiring an additional 352,994 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Dr. Reddy's Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company's stock worth $41,000 after purchasing an additional 2,230 shares during the period. Ieq Capital LLC boosted its holdings in shares of Dr. Reddy's Laboratories by 444.7% during the fourth quarter. Ieq Capital LLC now owns 20,753 shares of the company's stock worth $328,000 after purchasing an additional 16,943 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Dr. Reddy's Laboratories by 271.5% during the fourth quarter. Bank of New York Mellon Corp now owns 82,006 shares of the company's stock worth $1,295,000 after purchasing an additional 59,930 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Dr. Reddy's Laboratories by 379.0% in the fourth quarter. QRG Capital Management Inc. now owns 45,283 shares of the company's stock valued at $715,000 after purchasing an additional 35,829 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.
Dr. Reddy's Laboratories Trading Down 0.6%
Shares of RDY opened at $15.50 on Thursday. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.89. The firm has a market capitalization of $12.94 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 5.51 and a beta of 0.33. 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 stock's fifty day simple moving average is $14.54 and its 200 day simple moving average is $14.16.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released 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 company had revenue of $996.17 million for 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%. On average, equities research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.
Analysts Set New Price Targets
RDY has been the topic of several recent analyst reports. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $14.44 to $16.90 in a research 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 report 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 research report on Thursday, May 8th. One 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 company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.95.
Get Our Latest Analysis on RDY
About Dr. Reddy's Laboratories
(
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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