Stanley Laman Group Ltd. Acquires Shares of 140,000 Dr. Reddy's Laboratories Limited (NYSE:RDY)

Stanley Laman Group Ltd. bought a new stake in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 140,000 shares of the company's stock, valued at approximately $1,847,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RDY. Royal Bank of Canada grew its stake in shares of Dr. Reddy's Laboratories by 403.1% during the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after purchasing an additional 8,042,163 shares during the period. Renaissance Technologies LLC grew its holdings in Dr. Reddy's Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock valued at $148,717,000 after purchasing an additional 7,467,979 shares during the period. Aikya Investment Management Ltd increased its stake 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 purchasing an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Dr. Reddy's Laboratories by 397.2% in the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after buying an additional 3,911,404 shares during the period. Institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

Dr. Reddy's Laboratories Stock Down 0.7%

Shares of NYSE:RDY traded down $0.11 during trading on Monday, hitting $15.69. 2,109,671 shares of the company were exchanged, compared to its average volume of 2,026,656. Dr. Reddy's Laboratories Limited has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 24.99 and a beta of 0.33. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $14.17 and a two-hundred day moving average price of $14.10.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates 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 17.25% and a return on equity of 17.87%. As a group, research analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

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.