Logan Capital Management Inc. cut its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,430 shares of the company's stock after selling 24,540 shares during the period. Logan Capital Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $247,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Ascent Group LLC raised its holdings in Dr. Reddy's Laboratories by 7.4% in the second quarter. Ascent Group LLC now owns 10,885 shares of the company's stock valued at $164,000 after acquiring an additional 754 shares in the last quarter. Allworth Financial LP raised its holdings in Dr. Reddy's Laboratories by 28.4% in the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after acquiring an additional 776 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in Dr. Reddy's Laboratories by 2.8% in the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after acquiring an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Dr. Reddy's Laboratories by 6.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock valued at $183,000 after acquiring an additional 883 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in Dr. Reddy's Laboratories by 0.9% in the second quarter. Greenleaf Trust now owns 118,469 shares of the company's stock valued at $1,781,000 after acquiring an additional 1,028 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.
Dr. Reddy's Laboratories Stock Up 0.8%
Shares of NYSE:RDY opened at $14.59 on Wednesday. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 5.99 and a beta of 0.40. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The company's fifty day moving average is $14.37 and its two-hundred day moving average is $14.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.85.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Friday, October 24th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Dr. Reddy's Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $944.26 million. Equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on RDY. Zacks Research raised shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of Dr. Reddy's Laboratories in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Dr. Reddy's Laboratories currently has an average rating of "Moderate Buy" and an average price target of $16.95.
Read Our Latest Report 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.
Further Reading
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