Groupama Asset Managment Makes New $707,000 Investment in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Groupama Asset Management has acquired a new position in Dr. Reddy's Laboratories Ltd, purchasing 53,559 shares valued at approximately $707,000 during the first quarter.
• Dr. Reddy's Laboratories reported earnings of $0.20 per share, exceeding the consensus estimate of $0.18, indicating a strong performance despite a stock decline.
• Several analysts have upgraded their ratings on Dr. Reddy's Laboratories, with HSBC raising its price target from $14.44 to $16.90 and changing its rating from "hold" to "buy."

Groupama Asset Managment bought a new position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 53,559 shares of the company's stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RDY. Royal Bank of Canada boosted its stake in shares of Dr. Reddy's Laboratories by 403.1% in the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after buying an additional 8,042,163 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after buying an additional 4,301,212 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Dr. Reddy's Laboratories by 1,676.4% in the 4th quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock worth $44,806,000 after buying an additional 2,677,893 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Dr. Reddy's Laboratories by 608.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock worth $45,806,000 after buying an additional 2,491,530 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Dr. Reddy's Laboratories by 1,822.1% in the 4th quarter. Northern Trust Corp now owns 1,445,572 shares of the company's stock worth $22,826,000 after buying an additional 1,370,366 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE:RDY traded down $0.27 during trading on Tuesday, hitting $14.20. 345,450 shares of the company were exchanged, compared to its average volume of 1,825,407. The company has a market cap of $11.85 billion, a PE ratio of 21.52, a P/E/G ratio of 5.86 and a beta of 0.29. The stock has a 50 day moving average of $14.57 and a 200 day moving average of $14.03. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.77. 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 posted its earnings results 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. The firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. As a group, equities research analysts predict 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.