Dr. Reddy's Laboratories Ltd (NYSE:RDY) Shares Sold by XY Capital Ltd

Key Points

• XY Capital Ltd significantly reduced its holdings in Dr. Reddy's Laboratories by 70.7%, selling 47,520 shares and retaining 19,689 shares worth approximately $260,000.
• Multiple institutional investors have increased their stakes in Dr. Reddy's, with a notable 623.6% increase by Tower Research Capital LLC during the fourth quarter.
• HSBC analysts have upgraded Dr. Reddy's Laboratories from a "hold" to a "strong-buy" rating, raising their price target from $14.44 to $16.90.

XY Capital Ltd cut its position in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 70.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,689 shares of the company's stock after selling 47,520 shares during the period. XY Capital Ltd's holdings in Dr. Reddy's Laboratories were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RDY. CenterBook Partners LP bought a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at approximately $258,000. Vanguard Group Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company's stock valued at $65,985,000 after purchasing an additional 106,457 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at approximately $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock valued at $524,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 1.8% during the 1st quarter. Thornburg Investment Management Inc. now owns 71,001 shares of the company's stock worth $937,000 after acquiring an additional 1,250 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Up 0.5%

Shares of NYSE:RDY traded up $0.07 on Tuesday, reaching $13.89. The company had a trading volume of 356,477 shares, compared to its average volume of 1,878,767. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.85. The firm's 50 day simple moving average is $14.83 and its 200-day simple moving average is $14.00. The firm has a market capitalization of $11.59 billion, a PE ratio of 21.04, a PEG ratio of 5.52 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 announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) 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 business had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. As a group, analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

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.