Pinpoint Asset Management Ltd Has $5.02 Million Holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

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 cut its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 20.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,625 shares of the company's stock after selling 96,250 shares during the period. Dr. Reddy's Laboratories makes up approximately 0.9% of Pinpoint Asset Management Ltd's holdings, making the stock its 18th biggest position. Pinpoint Asset Management Ltd's holdings in Dr. Reddy's Laboratories were worth $5,020,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Dr. Reddy's Laboratories by 403.1% during 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 period. Dimensional Fund Advisors LP lifted its stake in Dr. Reddy's Laboratories by 405.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock worth $84,643,000 after purchasing an additional 4,301,212 shares during the period. Vanguard Group Inc. boosted its holdings in Dr. Reddy's Laboratories by 397.2% during the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after purchasing an additional 3,911,404 shares in the last quarter. Millennium Management LLC grew its stake in shares of Dr. Reddy's Laboratories by 1,676.4% in the 4th quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock valued at $44,806,000 after purchasing an additional 2,677,893 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Dr. Reddy's Laboratories by 608.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock worth $45,806,000 after buying an additional 2,491,530 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Dr. Reddy's Laboratories Price Performance

Shares of Dr. Reddy's Laboratories stock traded up $0.22 during mid-day trading on Friday, reaching $13.82. 1,111,957 shares of the stock were exchanged, compared to its average volume of 1,531,837. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 5.44 and a beta of 0.29. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $14.85 and a 200 day simple moving average of $14.01. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $988.82 million during the quarter, compared to analysts' expectations 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 predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.