Hsbc Holdings PLC Sells 111,151 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• HSBC Holdings PLC cut its stake in Dr. Reddy's Laboratories by 58.7% in the fourth quarter, selling 111,151 shares and leaving it with 78,293 shares valued at about $1.10 million.
• Other institutional investors also adjusted holdings, with firms like Invesco and Vident Advisory increasing positions; overall, hedge funds and institutions now own 3.85% of the company.
• Analysts remain cautious on the stock: Weiss Ratings downgraded it and Goldman Sachs moved it to sell, giving Dr. Reddy's Laboratories a consensus rating of Reduce.

Hsbc Holdings PLC cut its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,293 shares of the company's stock after selling 111,151 shares during the quarter. Hsbc Holdings PLC's holdings in Dr. Reddy's Laboratories were worth $1,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in Dr. Reddy's Laboratories by 67.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company's stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Groupama Asset Managment boosted its position in Dr. Reddy's Laboratories by 1.7% during the fourth quarter. Groupama Asset Managment now owns 55,419 shares of the company's stock worth $778,000 after purchasing an additional 912 shares during the period. Invesco Ltd. boosted its position in Dr. Reddy's Laboratories by 18.6% during the fourth quarter. Invesco Ltd. now owns 372,091 shares of the company's stock worth $5,224,000 after purchasing an additional 58,345 shares during the period. Corient Private Wealth LLC increased its stake in shares of Dr. Reddy's Laboratories by 1.8% in the fourth quarter. Corient Private Wealth LLC now owns 161,510 shares of the company's stock worth $2,268,000 after purchasing an additional 2,784 shares in the last quarter. Finally, Vident Advisory LLC raised its position in shares of Dr. Reddy's Laboratories by 8.1% in the fourth quarter. Vident Advisory LLC now owns 208,747 shares of the company's stock valued at $2,931,000 after purchasing an additional 15,686 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Dr. Reddy's Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 11th. The Goldman Sachs Group downgraded Dr. Reddy's Laboratories from a "neutral" rating to a "sell" rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce".

Dr. Reddy's Laboratories Stock Down 1.9%

RDY opened at $12.94 on Tuesday. The firm has a market capitalization of $10.80 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 1.99 and a beta of 0.25. Dr. Reddy's Laboratories Ltd has a one year low of $12.19 and a one year high of $15.67. The company has a fifty day moving average price of $13.65 and a 200-day moving average price of $13.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.80 and a quick ratio of 1.34.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 12.34% and a net margin of 12.90%.The business had revenue of $852.55 million for the quarter, compared to analysts' expectations of $886.58 million. Equities research analysts expect that Dr. Reddy's Laboratories Ltd will post 0.52 earnings per share for the current fiscal year.

Dr. Reddy's Laboratories Company Profile

Dr. Reddy's Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company's core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.

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