Inspire Investing LLC Sells 1,424 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Inspire Investing LLC decreased its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 11.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,548 shares of the company’s stock after selling 1,424 shares during the quarter. Inspire Investing LLC’s holdings in Dr. Reddy’s Laboratories were worth $917,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Dr. Reddy’s Laboratories by 318.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after buying an additional 283,700 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 61.4% in the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock valued at $25,333,000 after purchasing an additional 126,472 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Dr. Reddy’s Laboratories by 126.5% during the fourth quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock valued at $14,283,000 after purchasing an additional 114,630 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Dr. Reddy’s Laboratories by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after purchasing an additional 114,294 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Dr. Reddy’s Laboratories by 2,197.8% during the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock worth $8,301,000 after purchasing an additional 108,243 shares during the last quarter. Institutional investors and hedge funds own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.7 %

RDY stock opened at $78.83 on Tuesday. The stock has a fifty day moving average of $80.67 and a 200-day moving average of $76.23. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $63.72 and a fifty-two week high of $84.46. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Saturday, July 27th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). The business had revenue of $919.80 million during the quarter, compared to the consensus estimate of $861.68 million. Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. As a group, equities research analysts predict that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th.

Dr. Reddy’s Laboratories Profile

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.