Triglav Skladi D.O.O. Takes Position in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Key Points

• Triglav Skladi D.O.O. has taken a new position in Dr. Reddy's Laboratories, acquiring 65,000 shares valued at approximately $857,000.
• Several hedge funds have significantly increased their holdings in Dr. Reddy's, with Royal Bank of Canada raising its position by 403.1% during the last quarter.
• Analysts have generally upgraded their ratings on Dr. Reddy's Laboratories, with a consensus rating of "Buy" and an average target price of $16.95.

Triglav Skladi D.O.O. acquired a new position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 65,000 shares of the company's stock, valued at approximately $857,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDY. Royal Bank of Canada boosted its stake in Dr. Reddy's Laboratories by 403.1% in the 4th 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. Dimensional Fund Advisors LP boosted 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 worth $84,643,000 after purchasing an additional 4,301,212 shares during the period. Millennium Management LLC boosted its stake in Dr. Reddy's Laboratories by 1,676.4% in the 4th quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock worth $44,806,000 after purchasing an additional 2,677,893 shares during the period. BNP Paribas Financial Markets boosted its stake in Dr. Reddy's Laboratories by 608.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock worth $45,806,000 after purchasing an additional 2,491,530 shares during the period. Finally, Northern Trust Corp boosted its stake in Dr. Reddy's Laboratories by 1,822.1% in the 4th quarter. Northern Trust Corp now owns 1,445,572 shares of the company's stock worth $22,826,000 after purchasing an additional 1,370,366 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. 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. Finally, 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. One research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Down 0.9%

Shares of NYSE:RDY traded down $0.14 during trading on Thursday, reaching $14.13. 1,751,442 shares of the company traded hands, compared to its average volume of 1,475,883. The firm has a fifty day simple moving average of $14.78 and a 200 day simple moving average of $14.00. The firm has a market cap of $11.79 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 5.74 and a beta of 0.29. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.85. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $988.82 million during 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 anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal 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.