Wellington Management Group LLP Cuts Position in Dr. Reddy's Laboratories Ltd $RDY

Wellington Management Group LLP lowered its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 51.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,711 shares of the company's stock after selling 87,865 shares during the period. Wellington Management Group LLP's holdings in Dr. Reddy's Laboratories were worth $1,198,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Dr. Reddy's Laboratories by 4.6% in the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company's stock worth $138,293,000 after buying an additional 434,805 shares during the last quarter. Morgan Stanley lifted its position in shares of Dr. Reddy's Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company's stock valued at $125,322,000 after buying an additional 2,603,897 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Dr. Reddy's Laboratories by 3.7% during the 4th quarter. BNP Paribas Financial Markets now owns 4,152,566 shares of the company's stock worth $58,302,000 after acquiring an additional 149,384 shares during the period. Bessemer Group Inc. grew its stake in shares of Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company's stock worth $25,253,000 after acquiring an additional 403,219 shares during the period. Finally, Creative Planning grew its stake in shares of Dr. Reddy's Laboratories by 15.3% during the 3rd quarter. Creative Planning now owns 1,262,891 shares of the company's stock worth $17,655,000 after acquiring an additional 167,959 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Trading Up 1.7%

Shares of Dr. Reddy's Laboratories stock opened at $11.91 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.39. Dr. Reddy's Laboratories Ltd has a 1 year low of $11.36 and a 1 year high of $15.67. The firm has a market cap of $9.94 billion, a PE ratio of 27.06, a PEG ratio of 2.44 and a beta of 0.28. The company has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $13.23.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy's Laboratories had a return on equity of 9.49% and a net margin of 10.15%.The firm had revenue of $850.26 million during the quarter, compared to analysts' expectations of $850.56 million. Analysts expect that Dr. Reddy's Laboratories Ltd will post 0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDY. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Weiss Ratings lowered Dr. Reddy's Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

Dr. Reddy's Laboratories Company Profile

Dr. Reddy's Laboratories Limited is a Hyderabad, India-based pharmaceutical company that develops, manufactures and markets medicines. Its portfolio includes generic pharmaceuticals, active pharmaceutical ingredients (APIs), biosimilars and proprietary products, as well as over-the-counter and consumer health offerings in selected markets.

Founded in 1984 by Dr. Kallam Anji Reddy, the company began with a focus on APIs and expanded into finished-dose medicines and international pharmaceutical markets.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.