Assenagon Asset Management S.A. Purchases Shares of 137,020 Dr. Reddy’s Laboratories Ltd $RDY

Assenagon Asset Management S.A. acquired a new stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 137,020 shares of the company’s stock, valued at approximately $1,898,000.

A number of other hedge funds also recently modified their holdings of RDY. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dr. Reddy’s Laboratories by 0.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 13,154,524 shares of the company’s stock worth $184,690,000 after buying an additional 70,018 shares during the period. Morgan Stanley raised its holdings in Dr. Reddy’s Laboratories by 41.2% in the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock valued at $125,322,000 after acquiring an additional 2,603,897 shares during the period. Aikya Investment Management Ltd raised its holdings in Dr. Reddy’s Laboratories by 9.3% in the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock valued at $103,033,000 after acquiring an additional 623,518 shares during the period. JPMorgan Chase & Co. lifted its position in Dr. Reddy’s Laboratories by 2.0% during the third quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock worth $84,267,000 after acquiring an additional 116,924 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Dr. Reddy’s Laboratories by 3.0% during the third quarter. Vanguard Group Inc. now owns 5,123,709 shares of the company’s stock worth $71,629,000 after acquiring an additional 148,662 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group downgraded Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Trading Down 3.1%

Shares of NYSE:RDY opened at $14.04 on Thursday. The business’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $13.74. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.19 and a 1 year high of $15.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.80 and a quick ratio of 1.34. The company has a market capitalization of $11.72 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.99 and a beta of 0.25.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $852.55 million during the quarter, compared to analyst estimates of $886.58 million. Dr. Reddy’s Laboratories had a net margin of 12.90% and a return on equity of 12.34%. On average, research analysts anticipate 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.