Nykredit A S Takes Position in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Nykredit A/S purchased 111,102 shares of Dr. Reddy’s Laboratories during the second quarter, valued at approximately $1.61 million.
• Several institutional investors increased their positions, but hedge funds and other institutions collectively own only 3.85% of the stock.
• RDY shares recently traded at $12.60, while the company’s latest quarterly earnings of $0.06 per share missed estimates; analysts maintain a broadly cautious “Reduce” rating.

Nykredit A S purchased a new position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 111,102 shares of the company's stock, valued at approximately $1,610,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in Dr. Reddy's Laboratories by 4.6% in the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company's stock worth $138,293,000 after buying an additional 434,805 shares during the last quarter. Bessemer Group Inc. raised its position in Dr. Reddy's Laboratories by 28.4% during the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company's stock valued at $25,253,000 after acquiring an additional 403,219 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Dr. Reddy's Laboratories by 71.2% in the first quarter. Quantinno Capital Management LP now owns 637,094 shares of the company's stock valued at $8,824,000 after acquiring an additional 264,856 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Dr. Reddy's Laboratories in the first quarter valued at approximately $1,422,000. Finally, Frank Rimerman Advisors LLC grew its position in Dr. Reddy's Laboratories by 185.8% in the first quarter. Frank Rimerman Advisors LLC now owns 174,383 shares of the company's stock worth $2,415,000 after acquiring an additional 113,367 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Trading Up 1.6%

Shares of RDY stock opened at $12.60 on Wednesday. Dr. Reddy's Laboratories Ltd has a 12 month low of $11.36 and a 12 month high of $15.67. The company has a market cap of $10.51 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.58 and a beta of 0.28. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $12.12 and its two-hundred day moving average is $13.10.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The firm had revenue of $850.26 million during the quarter, compared to analyst estimates of $850.56 million. Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%. Equities analysts predict that Dr. Reddy's Laboratories Ltd will post 0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in 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, July 23rd. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce".

Dr. Reddy's Laboratories Company Profile

Dr. Reddy's Laboratories Limited is a Hyderabad, India-based pharmaceutical company that develops, manufactures and markets medicines. Its portfolio includes generic pharmaceuticals, active pharmaceutical ingredients (APIs), biosimilars and proprietary products, as well as over-the-counter and consumer health offerings in selected markets.

Founded in 1984 by Dr. Kallam Anji Reddy, the company began with a focus on APIs and expanded into finished-dose medicines and international pharmaceutical markets.

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