Summit Global Investments Has $2.46 Million Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Summit Global Investments increased its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,348 shares of the company’s stock after buying an additional 4,189 shares during the quarter. Summit Global Investments’ holdings in Dr. Reddy’s Laboratories were worth $2,460,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 8.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 115,499 shares of the company’s stock valued at $8,036,000 after purchasing an additional 9,414 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Dr. Reddy’s Laboratories by 3.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,294 shares of the company’s stock worth $995,000 after buying an additional 501 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Dr. Reddy’s Laboratories by 40.7% during the third quarter. Wellington Management Group LLP now owns 141,154 shares of the company’s stock worth $9,439,000 after buying an additional 40,825 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Dr. Reddy’s Laboratories by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 23,855 shares of the company’s stock valued at $1,601,000 after acquiring an additional 1,196 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Dr. Reddy’s Laboratories by 62.4% during the 3rd quarter. Schroder Investment Management Group now owns 150,165 shares of the company’s stock valued at $10,042,000 after acquiring an additional 57,681 shares in the last quarter. 14.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RDY shares. StockNews.com cut Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research report on Thursday, January 11th. Finally, Barclays upped their price target on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Trading Up 0.6 %

Shares of RDY traded up $0.43 during mid-day trading on Friday, reaching $75.21. 224,145 shares of the company were exchanged, compared to its average volume of 195,516. The business has a 50 day simple moving average of $73.97 and a two-hundred day simple moving average of $70.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. The stock has a market capitalization of $12.55 billion, a PE ratio of 19.84, a PEG ratio of 1.85 and a beta of 0.57. Dr. Reddy’s Laboratories Limited has a 52 week low of $53.12 and a 52 week high of $77.72.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. The firm had revenue of $867.00 million during the quarter, compared to analyst estimates of $827.81 million. On average, analysts predict that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.