US Bancorp DE Acquires 34,943 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• US Bancorp DE increased its stake in Dr. Reddy's Laboratories by 21.5%, acquiring an additional 34,943 shares, bringing its total holdings to 197,721 shares worth approximately $2.97 million.
• Other institutional investors, such as BNP Paribas Financial Markets and Millennium Management LLC, also significantly raised their stakes in Dr. Reddy's Laboratories, indicating growing institutional interest in the company.
• Dr. Reddy's Laboratories reported an EPS of $0.20 for the quarter, exceeding analyst expectations of $0.18, while also announcing a consensus target price of $16.95 from several research analysts.

US Bancorp DE increased its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 197,721 shares of the company's stock after buying an additional 34,943 shares during the quarter. US Bancorp DE's holdings in Dr. Reddy's Laboratories were worth $2,972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RDY. BNP Paribas Financial Markets raised its stake in Dr. Reddy's Laboratories by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company's stock worth $60,454,000 after acquiring an additional 1,682,363 shares in the last quarter. Millennium Management LLC increased its position in Dr. Reddy's Laboratories by 53.1% during the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company's stock worth $57,297,000 after purchasing an additional 1,506,368 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Dr. Reddy's Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company's stock worth $182,816,000 after purchasing an additional 1,452,192 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Dr. Reddy's Laboratories by 534.1% during the first quarter. Jump Financial LLC now owns 147,111 shares of the company's stock worth $1,940,000 after buying an additional 123,911 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Dr. Reddy's Laboratories by 2.2% during the first quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company's stock worth $65,985,000 after buying an additional 106,457 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Performance

Shares of Dr. Reddy's Laboratories stock opened at $13.95 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $14.26 and a two-hundred day moving average price of $14.30. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The company has a market cap of $11.64 billion, a P/E ratio of 21.13, a PEG ratio of 5.80 and a beta of 0.40.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%.The business had revenue of $988.82 million during the quarter, compared to analysts' expectations of $88.27 billion. As a group, analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RDY shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dr. Reddy's Laboratories in a report on Wednesday, October 8th. Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Dr. Reddy's Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

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.

Want to see what other hedge funds are holding RDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.