Vanguard Group Inc. Decreases Stock Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Vanguard Group Inc. reduced its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,027,272 shares of the company’s stock after selling 96,437 shares during the quarter. Vanguard Group Inc. owned approximately 0.60% of Dr. Reddy’s Laboratories worth $70,583,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares during the period. Raymond James Financial Inc. purchased a new position in Dr. Reddy’s Laboratories during the 2nd quarter valued at $67,000. Westside Investment Management Inc. increased its position in Dr. Reddy’s Laboratories by 94.8% during the 3rd quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock valued at $65,000 after purchasing an additional 2,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Dr. Reddy’s Laboratories during the 3rd quarter valued at $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dr. Reddy’s Laboratories by 13.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock valued at $89,000 after purchasing an additional 760 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RDY has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research 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 report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Stock Up 4.0%

NYSE:RDY opened at $13.51 on Friday. The firm’s 50-day moving average price is $13.59 and its 200-day moving average price is $13.78. The company has a market capitalization of $11.28 billion, a PE ratio of 23.29, a P/E/G ratio of 1.80 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.19 and a 1-year high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $852.55 million during the quarter, compared to analysts’ expectations of $886.58 million. Dr. Reddy’s Laboratories had a return on equity of 12.28% and a net margin of 12.90%. On average, equities analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current fiscal year.

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.