Frank Rimerman Advisors LLC Increases Stake in Dr. Reddy’s Laboratories Ltd $RDY

Frank Rimerman Advisors LLC grew its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 72.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,682 shares of the company’s stock after purchasing an additional 39,719 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,423,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RDY. Integrated Quantitative Investments LLC acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth about $1,915,000. Creative Planning raised its holdings in Dr. Reddy’s Laboratories by 105.0% in the 2nd quarter. Creative Planning now owns 1,094,932 shares of the company’s stock valued at $16,457,000 after acquiring an additional 560,823 shares during the last quarter. Geode Capital Management LLC lifted its stake in Dr. Reddy’s Laboratories by 32.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,333,556 shares of the company’s stock worth $20,043,000 after purchasing an additional 323,918 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 20.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 47,809 shares of the company’s stock worth $719,000 after purchasing an additional 8,066 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $285,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Trading Up 0.5%

Shares of Dr. Reddy’s Laboratories stock opened at $14.03 on Wednesday. The stock has a 50 day moving average of $14.18 and a 200 day moving average of $14.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.85. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 6.22 and a beta of 0.37. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Friday, October 24th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $944.26 million. Dr. Reddy’s Laboratories had a return on equity of 17.13% and a net margin of 17.14%. As a group, research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDY has been the topic of a number of analyst reports. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.90.

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.