Man Group plc Lowers Position in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Man Group plc lowered its stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. AIA Group Ltd raised its position in shares of Dr. Reddy's Laboratories by 441.7% during the fourth quarter. AIA Group Ltd now owns 145,150 shares of the company's stock valued at $2,292,000 after buying an additional 118,357 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Dr. Reddy's Laboratories by 397.2% during the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after buying an additional 3,911,404 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Dr. Reddy's Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. Van ECK Associates Corp increased its position in Dr. Reddy's Laboratories by 609.4% in the fourth quarter. Van ECK Associates Corp now owns 5,838 shares of the company's stock worth $92,000 after purchasing an additional 5,015 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Dr. Reddy's Laboratories by 400.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock worth $8,373,000 after purchasing an additional 427,573 shares during the last quarter. Institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

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

Dr. Reddy's Laboratories Price Performance

RDY traded up $0.34 during trading hours on Tuesday, hitting $14.72. The company's stock had a trading volume of 797,017 shares, compared to its average volume of 1,487,870. The business's 50-day moving average price is $13.60 and its 200-day moving average price is $14.00. Dr. Reddy's Laboratories Limited has a 12 month low of $12.26 and a 12 month high of $16.89. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 23.43 and a beta of 0.33. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

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