KLP Kapitalforvaltning AS Acquires 13,000 Shares of Dr. Reddy’s Laboratories Ltd $RDY

KLP Kapitalforvaltning AS boosted its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 216.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the company’s stock after purchasing an additional 13,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Dr. Reddy’s Laboratories were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RDY. Costello Asset Management INC bought a new stake in Dr. Reddy’s Laboratories in the first quarter worth $26,000. Legacy Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at about $41,000. Allworth Financial LP raised its stake in shares of Dr. Reddy’s Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company’s stock valued at $49,000 after acquiring an additional 776 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at about $62,000. Finally, Brooklyn Investment Group raised its stake in shares of Dr. Reddy’s Laboratories by 491.9% during the first quarter. Brooklyn Investment Group now owns 6,393 shares of the company’s stock valued at $84,000 after acquiring an additional 5,313 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RDY shares. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.95.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $14.44 on Monday. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. The company’s 50-day moving average is $14.30 and its 200 day moving average is $14.33. The stock has a market capitalization of $12.05 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.69 and a beta of 0.40.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $988.82 million for the quarter, compared to analysts’ expectations of $88.27 billion. On average, sell-side analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current year.

Dr. Reddy’s Laboratories 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.