JPMorgan Chase & Co. Acquires 116,924 Shares of Dr. Reddy’s Laboratories Ltd $RDY

JPMorgan Chase & Co. raised its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,027,710 shares of the company’s stock after buying an additional 116,924 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dr. Reddy’s Laboratories were worth $84,267,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its position in shares of Dr. Reddy’s Laboratories by 7.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock valued at $182,921,000 after acquiring an additional 921,078 shares during the period. Aikya Investment Management Ltd raised its stake in Dr. Reddy’s Laboratories by 5.7% during the 3rd quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company’s stock valued at $93,876,000 after purchasing an additional 360,028 shares during the last quarter. Acadian Asset Management LLC raised its stake in Dr. Reddy’s Laboratories by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company’s stock valued at $31,798,000 after purchasing an additional 644,835 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Dr. Reddy’s Laboratories by 30.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,350,988 shares of the company’s stock valued at $18,887,000 after purchasing an additional 318,621 shares during the period. Finally, Geode Capital Management LLC grew its position 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 during the last quarter. 3.85% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $14.71 on Tuesday. The firm has a market capitalization of $12.27 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 13.16 and a beta of 0.35. The company has a quick ratio of 1.38, a current ratio of 1.88 and a debt-to-equity ratio of 0.03. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.17. The firm has a 50-day moving average price of $13.84 and a 200 day moving average price of $14.04.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The company had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. Research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One research 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 currently has a consensus rating of “Hold” and a consensus price target of $16.90.

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.