Rhumbline Advisers lowered its holdings 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 343,289 shares of the company's stock after selling 86,773 shares during the period. Rhumbline Advisers' holdings in Dr. Reddy's Laboratories were worth $4,528,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted 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 valued at $158,489,000 after purchasing an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC raised its position 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 buying an additional 7,467,979 shares during the period. Aikya Investment Management Ltd boosted its holdings in Dr. Reddy's Laboratories by 416.1% in the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after acquiring an additional 4,523,303 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $84,643,000 after acquiring an additional 4,301,212 shares during the period. Finally, Vanguard Group Inc. increased its stake 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 worth $77,311,000 after acquiring an additional 3,911,404 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.
Dr. Reddy's Laboratories Stock Down 3.1%
Shares of RDY traded down $0.49 during midday trading on Tuesday, reaching $15.23. 1,600,777 shares of the company were exchanged, compared to its average volume of 1,513,726. The company has a market cap of $12.71 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 6.46 and a beta of 0.33. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.89. The stock has a 50-day moving average price of $14.28 and a 200-day moving average price of $14.12.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. Research analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $16.95.
Get Our Latest Research Report on RDY
Dr. Reddy's Laboratories Profile
(
Free Report)
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.
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