Groupama Asset Managment Buys New Position 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 stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 53,559 shares of the company's stock, valued at approximately $707,000.

Several other large investors have also recently made changes to their positions in the business. Allworth Financial LP raised its stake in shares of Dr. Reddy's Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after acquiring an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Dr. Reddy's Laboratories by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after acquiring an additional 831 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in shares of Dr. Reddy's Laboratories by 2.8% during the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock worth $446,000 after acquiring an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Dr. Reddy's Laboratories by 6.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock worth $183,000 after acquiring an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Dr. Reddy's Laboratories by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock worth $524,000 after acquiring an additional 1,099 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Stock Down 0.3%

Shares of Dr. Reddy's Laboratories stock opened at $14.1360 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.85. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 5.71 and a beta of 0.29. The company's 50 day moving average price is $14.66 and its 200-day moving average price is $14.02.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued 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. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The firm had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. Equities research analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Zacks Research raised shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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