Dr. Reddy's Laboratories Ltd (NYSE:RDY) Shares Sold by Pinpoint Asset Management Ltd

Key Points

• Pinpoint Asset Management Ltd has reduced its holdings in Dr. Reddy's Laboratories by 20.2%, now owning 380,625 shares after selling 96,250 shares during the first quarter.
• Multiple institutional investors, including Vanguard Group and Wellington Management Group, have significantly increased their positions in Dr. Reddy's Laboratories, indicating growing interest in the company.
• Analysts have recently upgraded Dr. Reddy's Laboratories from a "hold" to a "buy" rating, with a consensus price target of $16.95 reflecting improved market outlook.

Pinpoint Asset Management Ltd decreased its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 380,625 shares of the company's stock after selling 96,250 shares during the quarter. Dr. Reddy's Laboratories comprises about 0.9% of Pinpoint Asset Management Ltd's investment portfolio, making the stock its 18th largest holding. Pinpoint Asset Management Ltd's holdings in Dr. Reddy's Laboratories were worth $5,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Dr. Reddy's Laboratories by 400.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,600 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Dr. Reddy's Laboratories in the first quarter valued at about $26,000. Tower Research Capital LLC TRC increased its stake 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 valued at $48,000 after buying an additional 2,613 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Dr. Reddy's Laboratories in the first quarter valued at about $41,000. Finally, Allworth Financial LP increased its stake 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 valued at $49,000 after buying an additional 776 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Down 0.0%

NYSE:RDY traded down $0.01 during midday trading on Monday, reaching $13.80. The company had a trading volume of 260,576 shares, compared to its average volume of 1,885,482. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 5.52 and a beta of 0.29. The stock's fifty day simple moving average is $14.85 and its 200-day simple moving average is $14.00. Dr. Reddy's Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.85. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. On average, sell-side analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDY has been the subject of several recent research reports. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Company Profile

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.