Frank Rimerman Advisors LLC Grows Stock Position in Dr. Reddy’s Laboratories Ltd $RDY

Frank Rimerman Advisors LLC raised its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 185.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,383 shares of the company’s stock after acquiring an additional 113,367 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $2,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RDY. Robeco Institutional Asset Management B.V. boosted its stake in shares of Dr. Reddy’s Laboratories by 0.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 13,154,524 shares of the company’s stock valued at $184,690,000 after purchasing an additional 70,018 shares during the period. Morgan Stanley lifted 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 worth $125,322,000 after buying an additional 2,603,897 shares in the last quarter. Aikya Investment Management Ltd lifted 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 worth $103,033,000 after buying an additional 623,518 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Dr. Reddy’s Laboratories by 2.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock valued at $84,267,000 after buying an additional 116,924 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Dr. Reddy’s Laboratories by 3.7% in the 4th quarter. BNP Paribas Financial Markets now owns 4,152,566 shares of the company’s stock valued at $58,302,000 after buying an additional 149,384 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Trading Down 3.2%

RDY opened at $14.15 on Thursday. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.19 and a 12-month 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 stock has a market capitalization of $11.81 billion, a PE ratio of 24.41, a P/E/G ratio of 2.01 and a beta of 0.25. The firm’s fifty day moving average price is $13.68 and its 200 day moving average price is $13.76.

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 for the quarter, compared to analyst estimates of $886.58 million. Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%. As a group, research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on RDY shares. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.