Hsbc Holdings PLC Lowers Stake in Dr. Reddy’s Laboratories Ltd $RDY

Hsbc Holdings PLC reduced its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 58.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 78,293 shares of the company’s stock after selling 111,151 shares during the quarter. Hsbc Holdings PLC’s holdings in Dr. Reddy’s Laboratories were worth $1,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Dr. Reddy’s Laboratories by 67.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the last quarter. Russell Investments Group Ltd. raised its position in Dr. Reddy’s Laboratories by 803.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after purchasing an additional 2,749 shares in the last quarter. Larson Financial Group LLC lifted its stake in Dr. Reddy’s Laboratories by 81.5% during the fourth quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock worth $45,000 after purchasing an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Dr. Reddy’s Laboratories in the 4th quarter worth about $66,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RDY has been the topic of a number of research reports. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $12.94 on Tuesday. The firm has a market cap of $10.80 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.99 and a beta of 0.25. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $12.19 and a fifty-two week high of $15.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.80. The business has a 50 day moving average price of $13.65 and a 200-day moving average price of $13.74.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a net margin of 12.90% and a return on equity of 12.34%. The firm had revenue of $852.55 million during the quarter, compared to analysts’ expectations of $886.58 million. Equities research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.52 earnings per share for the current year.

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.