Stanley Laman Group Ltd. purchased a new position in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 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 the company. Royal Bank of Canada lifted its holdings in shares of Dr. Reddy's Laboratories by 403.1% during the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after acquiring an additional 8,042,163 shares during the period. Renaissance Technologies LLC lifted its stake in 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 valued at $148,717,000 after purchasing an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd lifted its stake in Dr. Reddy's Laboratories by 416.1% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Dr. Reddy's Laboratories by 405.9% in the 4th 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 during the last quarter. Finally, Vanguard Group Inc. lifted its stake in 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 purchasing an additional 3,911,404 shares during the last quarter. Institutional investors own 3.85% of the company's stock.
Dr. Reddy's Laboratories Trading Down 2.3%
Shares of RDY stock traded down $0.37 during trading hours on Friday, hitting $15.80. 1,690,706 shares of the company's stock traded hands, compared to its average volume of 1,509,744. The stock's 50 day simple moving average is $14.17 and its 200 day simple moving average is $14.10. The stock has a market cap of $13.19 billion, a PE ratio of 25.16 and a beta of 0.33. Dr. Reddy's Laboratories Limited has a 12 month low of $12.26 and a 12 month high of $16.89. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) 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 the consensus estimate of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. On average, sell-side analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on RDY. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dr. Reddy's Laboratories presently has an average rating of "Buy" and an average price target of $16.95.
Check Out Our Latest 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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