Vanguard Group Inc. Acquires 148,662 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Vanguard Group Inc. raised its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,123,709 shares of the company’s stock after acquiring an additional 148,662 shares during the quarter. Vanguard Group Inc.’s holdings in Dr. Reddy’s Laboratories were worth $71,629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Atria Investments Inc increased its stake in shares of Dr. Reddy’s Laboratories by 206.5% in the 2nd quarter. Atria Investments Inc now owns 32,733 shares of the company’s stock valued at $492,000 after acquiring an additional 22,052 shares in the last quarter. Savant Capital LLC lifted its position in shares of Dr. Reddy’s Laboratories by 131.0% during the 2nd quarter. Savant Capital LLC now owns 27,670 shares of the company’s stock valued at $416,000 after acquiring an additional 15,691 shares during the period. Fox Run Management L.L.C. boosted its stake in Dr. Reddy’s Laboratories by 229.6% during the second quarter. Fox Run Management L.L.C. now owns 35,656 shares of the company’s stock worth $536,000 after acquiring an additional 24,839 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Dr. Reddy’s Laboratories during the second quarter worth $2,193,000. Finally, Acadian Asset Management LLC grew its holdings in Dr. Reddy’s Laboratories by 43.8% in the second quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company’s stock worth $31,798,000 after purchasing an additional 644,835 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Trading Up 0.8%

NYSE:RDY opened at $14.39 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. The firm has a 50-day moving average of $13.90 and a 200-day moving average of $14.06. The company has a market cap of $12.01 billion, a PE ratio of 18.69, a PEG ratio of 12.96 and a beta of 0.34. Dr. Reddy’s Laboratories Ltd has a one year low of $12.26 and a one year high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $969.81 million for the quarter, compared to analysts’ expectations of $963.84 million. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. As a group, equities research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories currently has a consensus rating of “Hold” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Profile

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.