Signaturefd LLC lowered its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 112,569 shares of the company's stock after selling 26,381 shares during the period. Signaturefd LLC's holdings in Dr. Reddy's Laboratories were worth $1,485,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Xponance Inc. purchased a new stake in Dr. Reddy's Laboratories during the 1st quarter valued at $160,000. Cerity Partners LLC boosted its position in Dr. Reddy's Laboratories by 85.6% during the 1st quarter. Cerity Partners LLC now owns 192,217 shares of the company's stock valued at $2,535,000 after buying an additional 88,628 shares during the period. Allworth Financial LP boosted its position in Dr. Reddy's Laboratories by 28.4% during the 1st 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. Mirae Asset Global Investments Co. Ltd. boosted its position in Dr. Reddy's Laboratories by 6.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,826 shares of the company's stock valued at $262,000 after buying an additional 1,160 shares during the period. Finally, PDS Planning Inc boosted its position in Dr. Reddy's Laboratories by 22.2% during the 1st quarter. PDS Planning Inc now owns 39,415 shares of the company's stock valued at $520,000 after buying an additional 7,161 shares during the period. Institutional investors own 3.85% of the company's stock.
Dr. Reddy's Laboratories Stock Performance
Shares of RDY traded down $0.21 during mid-day trading on Friday, hitting $14.48. 1,074,020 shares of the company traded hands, compared to its average volume of 1,515,896. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92. The stock has a 50-day moving average price of $14.91 and a two-hundred day moving average price of $14.13. 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 market cap of $12.09 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 5.21 and a beta of 0.33.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. Equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on RDY. 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. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their target price for the stock from $14.44 to $16.90 in a research report on Thursday, June 5th. Finally, Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Dr. Reddy's Laboratories presently has a consensus rating of "Buy" and an average target price of $16.95.
Get Our Latest Stock Analysis 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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