Dr. Reddy’s Laboratories Ltd $RDY Stock Holdings Lifted by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 59.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,558 shares of the company’s stock after buying an additional 66,697 shares during the quarter. Quadrant Capital Group LLC’s holdings in Dr. Reddy’s Laboratories were worth $2,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RDY. Royal Bank of Canada grew its stake in Dr. Reddy’s Laboratories by 4.6% in the 1st quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock valued at $138,293,000 after acquiring an additional 434,805 shares during the last quarter. Bessemer Group Inc. increased its holdings in Dr. Reddy’s Laboratories by 28.4% during the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after acquiring an additional 403,219 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Dr. Reddy’s Laboratories by 71.2% during the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after acquiring an additional 264,856 shares in the last quarter. Sei Investments Co. raised its position in Dr. Reddy’s Laboratories by 79.3% during the first quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock worth $6,049,000 after acquiring an additional 193,174 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its position in Dr. Reddy’s Laboratories by 18.9% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 434,529 shares of the company’s stock worth $6,296,000 after acquiring an additional 69,044 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the topic of several recent research reports. Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and upped their price target for the company from $1,040.00 to $1,450.00 in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. BNP Paribas Exane raised shares of Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 price objective for the company in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $732.40.

Dr. Reddy’s Laboratories Stock Down 0.6%

Shares of NYSE:RDY opened at $13.19 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. Dr. Reddy’s Laboratories Ltd has a 52-week low of $11.36 and a 52-week high of $15.67. The stock’s fifty day simple moving average is $12.32 and its 200-day simple moving average is $12.91. The company has a market capitalization of $11.01 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.76 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. As a group, equities research analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.45 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy’s offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.