Natixis Advisors LLC Sells 30,474 Shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Key Points

• Natixis Advisors LLC has reduced its stake in Dr. Reddy's Laboratories by 53.3%, owning 26,692 shares after selling 30,474 shares in the first quarter, with the remaining holdings valued at approximately $352,000.
• Aside from Natixis, other institutional investors have also been active, with Legacy Advisors LLC purchasing a new stake valued at about $41,000 and Tower Research Capital LLC increasing holdings by 623.6%.
• Dr. Reddy's Laboratories reported a quarterly earnings per share of $0.20, surpassing expectations, and saw its stock ratings upgraded to "buy" by several analysts, with a consensus price target of $16.95.

Natixis Advisors LLC trimmed its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 53.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,692 shares of the company's stock after selling 30,474 shares during the quarter. Natixis Advisors LLC's holdings in Dr. Reddy's Laboratories were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC purchased a new stake in Dr. Reddy's Laboratories in the 1st quarter worth about $41,000. Tower Research Capital LLC TRC raised its holdings in shares of Dr. Reddy's Laboratories by 623.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock worth $48,000 after buying an additional 2,613 shares during the period. Allworth Financial LP raised its holdings in shares of Dr. Reddy's Laboratories by 28.4% in the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after buying an additional 776 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Dr. Reddy's Laboratories during the 1st quarter worth approximately $62,000. Finally, Natixis boosted its holdings in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. Natixis now owns 4,355 shares of the company's stock valued at $69,000 after acquiring an additional 3,484 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Up 2.5%

Shares of NYSE:RDY traded up $0.35 during trading hours on Wednesday, hitting $14.26. The company's stock had a trading volume of 927,559 shares, compared to its average volume of 1,481,001. Dr. Reddy's Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 5.60 and a beta of 0.29. The firm's fifty day moving average price is $14.81 and its 200 day moving average price is $14.00.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating 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 business had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. As a group, research analysts expect 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.