Dr. Reddy's Laboratories Limited (NYSE:RDY) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 32.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,065 shares of the company's stock after selling 23,725 shares during the period. Parallel Advisors LLC's holdings in Dr. Reddy's Laboratories were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Dr. Reddy's Laboratories by 403.1% in the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after acquiring an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 382.9% in the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock worth $148,717,000 after acquiring an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd lifted its holdings in shares of Dr. Reddy's Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock worth $88,590,000 after acquiring an additional 4,523,303 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after acquiring an additional 4,301,212 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Dr. Reddy's Laboratories by 397.2% in the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock worth $77,311,000 after acquiring an additional 3,911,404 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Trading Up 0.7%

RDY traded up $0.10 on Wednesday, reaching $14.76. 2,184,616 shares of the company traded hands, compared to its average volume of 1,484,965. Dr. Reddy's Laboratories Limited has a one year low of $12.26 and a one year high of $16.89. The firm has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $14.01. The company has a market cap of $12.32 billion, a P/E ratio of 23.50 and a beta of 0.33. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced 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 company had revenue of $996.17 million during the quarter, compared to analyst estimates of $83.70 billion. As a group, equities research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded 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.