US Bancorp DE Has $2.15 Million Holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY)

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 lessened its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after buying an additional 8,042,163 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 4,301,212 shares in the last quarter. Vanguard Group Inc. grew its stake in Dr. Reddy's Laboratories by 397.2% in the fourth 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in Dr. Reddy's Laboratories by 608.5% during the fourth quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock worth $45,806,000 after buying an additional 2,491,530 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Dr. Reddy's Laboratories by 1,676.4% during 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 last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE:RDY opened at $13.62 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 5.33 and a beta of 0.29. The firm has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $14.02.

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, topping analysts' consensus estimates of $0.18 by $0.02. The firm 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%. Research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RDY. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target for the stock from $14.44 to $16.90 in a research report 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 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. Based on data from MarketBeat.com, Dr. Reddy's Laboratories presently has a consensus rating of "Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories 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.

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