Vestmark Advisory Solutions Inc. Increases Stock Holdings in Dr. Reddy's Laboratories Ltd $RDY

Vestmark Advisory Solutions Inc. grew its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 127.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,180 shares of the company's stock after buying an additional 20,258 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Dr. Reddy's Laboratories were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its position in shares of 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 boosted its stake in shares of Dr. Reddy's Laboratories by 405.9% during the fourth 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 during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $65,985,000 after acquiring an additional 106,457 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 valued at $45,806,000 after acquiring an additional 2,491,530 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Dr. Reddy's Laboratories by 1,676.4% during the fourth quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock valued at $44,806,000 after acquiring an additional 2,677,893 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

RDY has been the topic of a number of analyst reports. Hsbc Global Res raised 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 objective for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One 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 company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Stock Performance

NYSE RDY opened at $14.22 on Monday. The business's 50-day moving average price is $14.75 and its 200 day moving average price is $14.01. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.85. The company has a market capitalization of $11.87 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 5.72 and a beta of 0.29. 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 released its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share 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 firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. On average, research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current 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.

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