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XY Capital Ltd Sells 47,520 Shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY)

Dr. Reddy's Laboratories logo with Medical background

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.
  • Need Better Tools to Track Dr. Reddy's Laboratories? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

XY Capital Ltd cut its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. CenterBook Partners LP acquired a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at about $258,000. Vanguard Group Inc. grew 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 buying an additional 106,457 shares during the period. Costello Asset Management INC acquired a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. grew 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 buying an additional 1,099 shares during the period. Finally, Thornburg Investment Management Inc. grew its stake in shares of Dr. Reddy's Laboratories by 1.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 71,001 shares of the company's stock valued at $937,000 after buying an additional 1,250 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Up 1.6%

RDY stock traded up $0.22 during mid-day trading on Friday, reaching $13.82. 1,111,957 shares of the company traded hands, compared to its average volume of 1,531,837. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 5.52 and a beta of 0.29. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The firm's 50 day moving average price is $14.85 and its 200 day moving average price is $14.00.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The firm had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. As a group, equities research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RDY shares. 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 upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $16.95.

Check Out Our Latest Stock Analysis on Dr. Reddy's Laboratories

Dr. Reddy's Laboratories Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Dr. Reddy's Laboratories (NYSE:RDY)

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