Man Group plc Sells 51,573 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Man Group plc trimmed its position in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 24.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,966 shares of the company's stock after selling 51,573 shares during the period. Man Group plc's holdings in Dr. Reddy's Laboratories were worth $2,478,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in shares of Dr. Reddy's Laboratories by 328.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 12,760 shares of the company's stock worth $201,000 after acquiring an additional 9,781 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in Dr. Reddy's Laboratories in the 4th quarter worth $162,000. Simon Quick Advisors LLC purchased a new stake in Dr. Reddy's Laboratories in the 4th quarter worth $224,000. SG Americas Securities LLC bought a new position in shares of Dr. Reddy's Laboratories during the 4th quarter valued at about $145,000. Finally, Lifestyle Asset Management Inc. grew its position in shares of Dr. Reddy's Laboratories by 422.2% during the fourth quarter. Lifestyle Asset Management Inc. now owns 71,488 shares of the company's stock valued at $1,129,000 after purchasing an additional 57,799 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Trading Down 1.3%

Shares of RDY traded down $0.19 during trading hours on Wednesday, reaching $14.57. 107,009 shares of the company traded hands, compared to its average volume of 2,037,575. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 23.19 and a beta of 0.33. The stock's fifty day moving average price is $13.62 and its 200 day moving average price is $14.01. Dr. Reddy's Laboratories Limited has a 12-month low of $12.26 and a 12-month high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $996.17 million for the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. Sell-side analysts forecast that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

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.