Nykredit A S bought a new stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 137,993 shares of the company's stock, valued at approximately $2,000,000.
Several other hedge funds have also made changes to their positions in RDY. Invesco Ltd. lifted its stake in shares of Dr. Reddy's Laboratories by 7.6% in the 2nd quarter. Invesco Ltd. now owns 253,342 shares of the company's stock valued at $3,808,000 after purchasing an additional 17,907 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Dr. Reddy's Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company's stock worth $47,000 after purchasing an additional 1,294 shares during the period. First Trust Advisors LP increased its position in shares of Dr. Reddy's Laboratories by 23.3% during the 2nd quarter. First Trust Advisors LP now owns 65,652 shares of the company's stock worth $987,000 after purchasing an additional 12,390 shares during the last quarter. Sei Investments Co. raised its holdings in Dr. Reddy's Laboratories by 37.3% in the 2nd quarter. Sei Investments Co. now owns 124,136 shares of the company's stock valued at $1,866,000 after buying an additional 33,747 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Dr. Reddy's Laboratories by 92.6% in the 2nd quarter. Quantinno Capital Management LP now owns 235,044 shares of the company's stock valued at $3,533,000 after buying an additional 112,988 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Weiss Ratings lowered shares of Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce".
Get Our Latest Stock Report on RDY
Dr. Reddy's Laboratories Stock Performance
Shares of RDY stock opened at $11.97 on Tuesday. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $11.36 and a fifty-two week high of $15.67. The company has a 50 day moving average price of $12.54 and a 200 day moving average price of $13.30. The stock has a market capitalization of $9.99 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%.The business had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. Equities research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.45 EPS for the current fiscal year.
About Dr. Reddy's Laboratories
(
Free Report)
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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