Vanguard Personalized Indexing Management LLC Acquires 111,691 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Vanguard Personalized Indexing Management LLC significantly increased its stake in Dr. Reddy's Laboratories by 61%, acquiring an additional 111,691 shares, bringing their total holdings to 294,709 shares valued at approximately $4.43 million.
• Other institutional investors, such as BNP Paribas Financial Markets and Millennium Management LLC, also boosted their investments in Dr. Reddy's, indicating growing confidence in the company.
• Dr. Reddy's Laboratories recently reported earnings of $0.20 per share for the last quarter, exceeding estimates, and it has an average target price of $16.95 from various analysts.

Vanguard Personalized Indexing Management LLC lifted its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 61.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,709 shares of the company's stock after purchasing an additional 111,691 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Dr. Reddy's Laboratories were worth $4,429,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in RDY. BNP Paribas Financial Markets increased its position in Dr. Reddy's Laboratories by 58.0% in the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company's stock worth $60,454,000 after buying an additional 1,682,363 shares during the period. Millennium Management LLC increased its position in Dr. Reddy's Laboratories by 53.1% during the first quarter. Millennium Management LLC now owns 4,344,000 shares of the company's stock worth $57,297,000 after acquiring an additional 1,506,368 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Dr. Reddy's Laboratories by 13.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company's stock worth $182,816,000 after acquiring an additional 1,452,192 shares during the period. Jump Financial LLC increased its position in 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 acquiring an additional 123,911 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Dr. Reddy's Laboratories by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company's stock worth $65,985,000 after purchasing an additional 106,457 shares during the period. 3.85% of the stock is owned by institutional investors.

Dr. Reddy's Laboratories Trading Down 2.9%

RDY stock opened at $13.95 on Wednesday. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The firm has a market cap of $11.64 billion, a P/E ratio of 21.13, a P/E/G ratio of 5.80 and a beta of 0.40. The business's 50 day moving average is $14.26 and its 200-day moving average is $14.30. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. Equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDY has been the topic of several research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Dr. Reddy's Laboratories in a report on Wednesday, October 8th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.95.

About Dr. Reddy's Laboratories

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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