First Affirmative Financial Network Makes New Investment in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

First Affirmative Financial Network acquired a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,064 shares of the company’s stock, valued at approximately $146,000.

Several other institutional investors also recently bought and sold shares of RDY. Royal Bank of Canada lifted its position in shares of Dr. Reddy’s Laboratories by 403.1% during the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock valued at $158,489,000 after buying an additional 8,042,163 shares in the last quarter. Renaissance Technologies LLC raised its position in Dr. Reddy’s Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock worth $148,717,000 after acquiring an additional 7,467,979 shares during the period. Aikya Investment Management Ltd raised its position in Dr. Reddy’s Laboratories by 416.1% during the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock worth $88,590,000 after acquiring an additional 4,523,303 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Dr. Reddy’s Laboratories by 405.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after purchasing an additional 4,301,212 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Dr. Reddy’s Laboratories by 397.2% in the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company’s stock valued at $77,311,000 after purchasing an additional 3,911,404 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $15.54 on Friday. The company has a market cap of $12.97 billion, a P/E ratio of 24.75 and a beta of 0.33. Dr. Reddy’s Laboratories Limited has a twelve month low of $12.26 and a twelve month high of $16.89. The company’s 50-day moving average price is $13.86 and its 200-day moving average price is $14.04. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $996.17 million during the quarter, compared to the consensus estimate of $83.70 billion. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. On average, sell-side analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on RDY shares. Hsbc Global Res upgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, HSBC upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and raised their target price for the company from $14.44 to $16.90 in a research report on Thursday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories currently has a consensus rating of “Buy” and a consensus price target of $16.95.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.