Dr. Reddy’s Laboratories Ltd $RDY Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 24.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 277,934 shares of the company’s stock after selling 89,865 shares during the period. Rhumbline Advisers’ holdings in Dr. Reddy’s Laboratories were worth $3,886,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Westside Investment Management Inc. bought a new stake in Dr. Reddy’s Laboratories in the second quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 71.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after acquiring an additional 1,294 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Dr. Reddy’s Laboratories by 217.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock valued at $50,000 after acquiring an additional 2,444 shares in the last quarter. Raymond James Financial Inc. bought a new position in Dr. Reddy’s Laboratories during the second quarter worth $67,000. Finally, Allworth Financial LP boosted its holdings in Dr. Reddy’s Laboratories by 37.8% in the second quarter. Allworth Financial LP now owns 4,827 shares of the company’s stock worth $73,000 after purchasing an additional 1,323 shares during the period. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dr. Reddy’s Laboratories Trading Up 0.6%

NYSE:RDY opened at $14.78 on Wednesday. The firm has a market capitalization of $12.34 billion, a P/E ratio of 19.20, a P/E/G ratio of 13.35 and a beta of 0.35. The business has a 50 day simple moving average of $13.85 and a 200 day simple moving average of $14.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The company had revenue of $969.81 million for the quarter, compared to analysts’ expectations of $963.84 million. Equities research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current 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.