Grantham Mayo Van Otterloo & Co. LLC Grows Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 82.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,233 shares of the company’s stock after purchasing an additional 187,600 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Dr. Reddy’s Laboratories were worth $5,819,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Summit Global Investments increased its stake in Dr. Reddy’s Laboratories by 0.7% in the 3rd quarter. Summit Global Investments now owns 124,364 shares of the company’s stock worth $1,739,000 after buying an additional 856 shares during the period. Compound Planning Inc. boosted its position in Dr. Reddy’s Laboratories by 7.5% in the 3rd quarter. Compound Planning Inc. now owns 12,797 shares of the company’s stock valued at $179,000 after buying an additional 894 shares during the period. Groupama Asset Managment boosted its position in Dr. Reddy’s Laboratories by 1.8% in the 2nd quarter. Groupama Asset Managment now owns 54,507 shares of the company’s stock valued at $821,000 after buying an additional 948 shares during the period. Assetmark Inc. grew its stake in Dr. Reddy’s Laboratories by 5.2% in the 3rd quarter. Assetmark Inc. now owns 19,837 shares of the company’s stock worth $277,000 after acquiring an additional 988 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 7.2% in the 3rd quarter. Profund Advisors LLC now owns 15,305 shares of the company’s stock worth $214,000 after acquiring an additional 1,026 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Performance

RDY stock opened at $14.40 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. The business has a 50-day moving average price of $13.90 and a 200 day moving average price of $14.06. The company has a market capitalization of $12.01 billion, a P/E ratio of 18.70, a PEG ratio of 13.08 and a beta of 0.34. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $969.81 million during the quarter, compared to analyst estimates of $963.84 million. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. As a group, equities research analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.