Lazard Asset Management LLC reduced its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,059,831 shares of the company's stock after selling 108,731 shares during the quarter. Lazard Asset Management LLC owned 0.13% of Dr. Reddy's Laboratories worth $14,679,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its stake in shares of Dr. Reddy's Laboratories by 67.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company's stock worth $29,000 after buying an additional 821 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Dr. Reddy's Laboratories by 803.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company's stock valued at $43,000 after acquiring an additional 2,749 shares during the last quarter. Larson Financial Group LLC boosted its stake in Dr. Reddy's Laboratories by 81.5% during the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company's stock valued at $45,000 after acquiring an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Dr. Reddy's Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company's stock worth $47,000 after acquiring an additional 1,294 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Dr. Reddy's Laboratories during the 4th quarter worth $66,000. Institutional investors and hedge funds own 3.85% of the company's stock.
Analyst Upgrades and Downgrades
RDY has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Dr. Reddy's Laboratories from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. The Goldman Sachs Group lowered Dr. Reddy's Laboratories from a "neutral" rating to a "sell" rating in a report on Thursday, April 23rd. Finally, Weiss Ratings cut Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Dr. Reddy's Laboratories has an average rating of "Reduce".
Read Our Latest Stock Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Up 0.4%
RDY stock opened at $11.78 on Thursday. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.35 and a beta of 0.25. Dr. Reddy's Laboratories Ltd has a 1-year low of $11.36 and a 1-year high of $15.67. The firm has a fifty day moving average price of $13.38 and a two-hundred day moving average price of $13.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.39.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%.The business had revenue of $850.26 million during the quarter, compared to the consensus estimate of $850.56 million. Research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.47 EPS for the current year.
Dr. Reddy's Laboratories Company Profile
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Free Report)
Dr. Reddy's Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.
The company's core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.
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