Signaturefd LLC trimmed its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 19.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RDY. Royal Bank of Canada raised its position in shares of Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after buying an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Dr. Reddy's Laboratories by 382.9% in the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock valued at $148,717,000 after buying an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd raised its position in Dr. Reddy's Laboratories by 416.1% during the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after purchasing an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 4,301,212 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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. 3.85% of the stock is currently owned by institutional investors and hedge funds.
Dr. Reddy's Laboratories Trading Down 1.4%
Shares of Dr. Reddy's Laboratories stock traded down $0.21 during trading on Friday, hitting $14.48. The company's stock had a trading volume of 1,074,020 shares, compared to its average volume of 1,515,896. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.37. Dr. Reddy's Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.89. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 5.21 and a beta of 0.33. 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 (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. The company had revenue of $996.17 million for the quarter, compared to analysts' expectations of $83.70 billion. Equities research analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on the stock. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $16.95.
Read Our Latest Stock Report on RDY
Dr. Reddy's Laboratories Company 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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