Envestnet Asset Management Inc. Lowers Stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Envestnet Asset Management Inc. lowered its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 80.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,861 shares of the company's stock after selling 133,227 shares during the period. Envestnet Asset Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $420,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 3,911,404 shares during the period. Aquatic Capital Management LLC purchased a new position in Dr. Reddy's Laboratories in the 4th quarter valued at approximately $543,000. Deutsche Bank AG boosted its position in Dr. Reddy's Laboratories by 311.9% in the 4th quarter. Deutsche Bank AG now owns 171,602 shares of the company's stock valued at $2,710,000 after buying an additional 129,936 shares during the period. Guggenheim Capital LLC boosted its position in Dr. Reddy's Laboratories by 341.3% in the 4th quarter. Guggenheim Capital LLC now owns 106,538 shares of the company's stock valued at $1,682,000 after buying an additional 82,394 shares during the period. Finally, Bessemer Group Inc. boosted its position in Dr. Reddy's Laboratories by 10.3% in the 1st quarter. Bessemer Group Inc. now owns 863,880 shares of the company's stock valued at $11,395,000 after buying an additional 81,024 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Up 1.6%

NYSE:RDY traded up $0.22 during midday trading on Friday, hitting $13.82. 1,111,957 shares of the company were exchanged, compared to its average volume of 1,531,837. The company has a fifty day simple moving average of $14.85 and a 200 day simple moving average of $14.00. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.53 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 5.52 and a beta of 0.29.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The company had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. As a group, equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RDY shares. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, 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. One equities research 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 company. Based on data from MarketBeat, Dr. Reddy's Laboratories has an average rating of "Buy" and a consensus target price of $16.95.

About Dr. Reddy's Laboratories

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.