Sequoia Financial Advisors LLC Boosts Stock Position in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Dr. Reddy's Laboratories Ltd by 84.2% in the 2nd quarter, now owning 135,550 shares valued at approximately $2.037 million.
• Several institutional investors also boosted their stakes, with BNP Paribas Financial Markets raising its stake by 58% during the 1st quarter, now owning 4,583,333 shares worth $60.454 million.
• Analysts have a consensus rating of "Moderate Buy" for Dr. Reddy's Laboratories, with a target price average of $16.95 following recent research reports.

Sequoia Financial Advisors LLC boosted its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 84.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,550 shares of the company's stock after buying an additional 61,964 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Dr. Reddy's Laboratories were worth $2,037,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Dr. Reddy's Laboratories by 58.0% during the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company's stock worth $60,454,000 after acquiring an additional 1,682,363 shares in the last quarter. Millennium Management LLC raised its stake in Dr. Reddy's Laboratories by 53.1% during the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company's stock worth $57,297,000 after acquiring an additional 1,506,368 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Dr. Reddy's Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company's stock worth $182,816,000 after acquiring an additional 1,452,192 shares in the last quarter. Jump Financial LLC raised its stake in Dr. Reddy's Laboratories by 534.1% during the 1st quarter. Jump Financial LLC now owns 147,111 shares of the company's stock worth $1,940,000 after acquiring an additional 123,911 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Dr. Reddy's Laboratories by 61.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 294,709 shares of the company's stock worth $4,429,000 after acquiring an additional 111,691 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analyst Ratings Changes

RDY has been the topic of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dr. Reddy's Laboratories in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Dr. Reddy's Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Trading Up 0.8%

NYSE RDY opened at $14.08 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The firm has a market cap of $11.75 billion, a PE ratio of 21.33, a P/E/G ratio of 5.64 and a beta of 0.40. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.17. The firm's fifty day moving average is $14.27 and its two-hundred day moving average is $14.30.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. Analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

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.

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