Dr. Reddy's Laboratories Ltd (NYSE:RDY) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its holdings in Dr. Reddy's Laboratories Ltd by 28.7% in Q1, owning 162,778 shares valued at approximately $2.15 million after selling 65,523 shares.
• Several hedge funds significantly increased their stakes in Dr. Reddy's Laboratories, with Royal Bank of Canada boosting its position by 403.1%, now holding over 10 million shares worth $158 million.
• Revenue for Dr. Reddy's Laboratories reached $988.82 million in the most recent quarter, exceeding analysts' expectations, with a reported earnings per share of $0.20 against a consensus estimate of $0.18.

US Bancorp DE reduced its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 28.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 162,778 shares of the company's stock after selling 65,523 shares during the period. US Bancorp DE's holdings in Dr. Reddy's Laboratories were worth $2,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Dr. Reddy's Laboratories during the 4th quarter valued at $95,000. LPL Financial LLC grew its stake in shares of Dr. Reddy's Laboratories by 418.7% during the 4th quarter. LPL Financial LLC now owns 128,126 shares of the company's stock valued at $2,023,000 after buying an additional 103,424 shares during the period. Vanguard Group Inc. grew its stake in shares of Dr. Reddy's Laboratories by 397.2% during 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. National Bank of Canada FI grew its stake in shares of Dr. Reddy's Laboratories by 414.7% during the 4th quarter. National Bank of Canada FI now owns 16,464 shares of the company's stock valued at $260,000 after buying an additional 13,265 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Dr. Reddy's Laboratories by 8,779.0% during the 4th quarter. Geode Capital Management LLC now owns 1,176,829 shares of the company's stock valued at $18,582,000 after buying an additional 1,163,575 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Stock Up 0.5%

Shares of NYSE:RDY traded up $0.07 during midday trading on Tuesday, hitting $13.89. 187,490 shares of the company's stock traded hands, compared to its average volume of 1,877,605. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The company has a market cap of $11.59 billion, a PE ratio of 21.04, a P/E/G ratio of 5.52 and a beta of 0.29. The firm's fifty day moving average price is $14.83 and its two-hundred day moving average price is $14.00. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.85.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on RDY shares. HSBC raised 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 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 equities research 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target 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.