Wellington Management Group LLP Sells 87,865 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Wellington Management Group LLP decreased its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 51.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,711 shares of the company’s stock after selling 87,865 shares during the quarter. Wellington Management Group LLP’s holdings in Dr. Reddy’s Laboratories were worth $1,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Morgan Stanley raised its position in Dr. Reddy’s Laboratories by 41.2% during the 4th quarter. Morgan Stanley now owns 8,926,051 shares of the company’s stock valued at $125,322,000 after purchasing an additional 2,603,897 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Dr. Reddy’s Laboratories by 1,699.4% during the fourth quarter. Marshall Wace LLP now owns 516,256 shares of the company’s stock valued at $7,248,000 after buying an additional 487,565 shares during the period. Royal Bank of Canada raised its holdings in shares of Dr. Reddy’s Laboratories by 4.6% during the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock valued at $138,293,000 after acquiring an additional 434,805 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Dr. Reddy’s Laboratories by 28.4% during the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after acquiring an additional 403,219 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Dr. Reddy’s Laboratories by 51.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,168,562 shares of the company’s stock worth $16,407,000 after acquiring an additional 398,537 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Price Performance

RDY opened at $11.91 on Friday. The stock has a 50-day moving average price of $12.35 and a 200-day moving average price of $13.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market cap of $9.94 billion, a PE ratio of 27.06, a P/E/G ratio of 2.44 and a beta of 0.28. Dr. Reddy’s Laboratories Ltd has a 1 year low of $11.36 and a 1 year high of $15.67.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $850.26 million for the quarter, compared to the consensus estimate of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. Sell-side analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Dr. Reddy’s Laboratories has an average rating of “Reduce”.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a Hyderabad, India-based pharmaceutical company that develops, manufactures and markets medicines. Its portfolio includes generic pharmaceuticals, active pharmaceutical ingredients (APIs), biosimilars and proprietary products, as well as over-the-counter and consumer health offerings in selected markets.

Founded in 1984 by Dr. Kallam Anji Reddy, the company began with a focus on APIs and expanded into finished-dose medicines and international pharmaceutical markets.