Quadrant Capital Group LLC Boosts Stock Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Quadrant Capital Group LLC grew its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 54.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 411,374 shares of the company’s stock after buying an additional 145,259 shares during the quarter. Quadrant Capital Group LLC’s holdings in Dr. Reddy’s Laboratories were worth $5,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 71.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after buying an additional 1,294 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Dr. Reddy’s Laboratories by 217.4% during the third quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock worth $50,000 after acquiring an additional 2,444 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories during the second quarter worth $67,000. Westside Investment Management Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 94.8% in the third quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock worth $65,000 after acquiring an additional 2,236 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Dr. Reddy’s Laboratories by 37.8% in the second quarter. Allworth Financial LP now owns 4,827 shares of the company’s stock worth $73,000 after acquiring an additional 1,323 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE:RDY opened at $14.49 on Wednesday. The company has a 50 day moving average of $13.91 and a 200 day moving average of $14.06. The stock has a market cap of $12.09 billion, a P/E ratio of 18.81, a P/E/G ratio of 13.07 and a beta of 0.34. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.17. The company has a current ratio of 1.88, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.90.

Dr. Reddy’s Laboratories Company 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.