Sei Investments Co. raised its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY – Free Report) by 79.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,731 shares of the company’s stock after purchasing an additional 193,174 shares during the period. Sei Investments Co. owned 0.05% of Dr. Reddy’s Laboratories worth $6,049,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in RDY. Aikya Investment Management Ltd boosted its stake in Dr. Reddy’s Laboratories by 9.3% during the fourth quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock valued at $103,033,000 after buying an additional 623,518 shares during the last quarter. Bessemer Group Inc. grew its holdings in 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 valued at $25,253,000 after buying an additional 403,219 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in Dr. Reddy’s Laboratories by 912.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 344,786 shares of the company’s stock worth $4,841,000 after acquiring an additional 310,737 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 185.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 174,383 shares of the company’s stock worth $2,415,000 after acquiring an additional 113,367 shares during the last quarter. Finally, Abacus Wealth Partners LLC purchased a new stake in shares of Dr. Reddy’s Laboratories during the 4th quarter worth approximately $1,109,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.
Dr. Reddy’s Laboratories Trading Up 1.9%
Shares of NYSE RDY opened at $12.07 on Tuesday. The business’s 50 day moving average is $13.29 and its two-hundred day moving average is $13.56. 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 stock has a market capitalization of $10.08 billion, a P/E ratio of 27.43, a PEG ratio of 2.38 and a beta of 0.29.
Dr. Reddy’s Laboratories (NYSE:RDY – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to analysts’ expectations of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. As a group, research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.47 EPS for the current year.
About Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.
The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.
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