Envestnet Asset Management Inc. Has $420,000 Holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Envestnet Asset Management Inc. lessened its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 80.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,861 shares of the company's stock after selling 133,227 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $420,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RDY. Glass Jacobson Investment Advisors llc grew its position in shares of Dr. Reddy's Laboratories by 400.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,600 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Dr. Reddy's Laboratories during the first quarter worth $41,000. Tower Research Capital LLC TRC lifted its position in Dr. Reddy's Laboratories by 623.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after acquiring an additional 2,613 shares in the last quarter. Natixis boosted its stake in Dr. Reddy's Laboratories by 400.0% in the 4th quarter. Natixis now owns 4,355 shares of the company's stock worth $69,000 after purchasing an additional 3,484 shares during the period. Finally, WealthCollab LLC increased its holdings in Dr. Reddy's Laboratories by 492.6% during the 4th quarter. WealthCollab LLC now owns 5,505 shares of the company's stock worth $87,000 after purchasing an additional 4,576 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RDY. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the stock from $14.44 to $16.90 in a report on Thursday, June 5th. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Stock Performance

RDY stock traded up $0.29 during midday trading on Thursday, reaching $13.62. 1,199,150 shares of the company were exchanged, compared to its average volume of 1,574,314. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 5.33 and a beta of 0.29. The business has a 50-day moving average price of $14.87 and a two-hundred day moving average price of $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. Equities research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.

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.