Dr. Reddy’s Laboratories Ltd $RDY Position Cut by Rhumbline Advisers

Rhumbline Advisers lowered its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 24.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,934 shares of the company’s stock after selling 89,865 shares during the period. Rhumbline Advisers’ holdings in Dr. Reddy’s Laboratories were worth $3,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Aikya Investment Management Ltd lifted its holdings in Dr. Reddy’s Laboratories by 2.5% in the second quarter. Aikya Investment Management Ltd now owns 6,354,979 shares of the company’s stock worth $95,515,000 after purchasing an additional 154,604 shares during the period. JPMorgan Chase & Co. raised its position in shares of Dr. Reddy’s Laboratories by 157.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock worth $88,839,000 after buying an additional 3,617,435 shares in the last quarter. GAM Holding AG acquired a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth approximately $1,082,000. Bessemer Group Inc. lifted its stake in shares of 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 worth $18,887,000 after acquiring an additional 318,621 shares during the period. Finally, Vise Technologies Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the second quarter valued at approximately $285,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.90.

Dr. Reddy’s Laboratories Trading Up 0.6%

Shares of NYSE:RDY opened at $14.78 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.38 and a current ratio of 1.88. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 13.35 and a beta of 0.35. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The company has a 50 day moving average price of $13.85 and a 200 day moving average price of $14.04.

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