Dr. Reddy’s Laboratories Ltd $RDY Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 185.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,383 shares of the company’s stock after acquiring an additional 113,367 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $2,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RDY. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dr. Reddy’s Laboratories by 13.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock worth $89,000 after purchasing an additional 760 shares during the period. EWA LLC grew its stake in shares of Dr. Reddy’s Laboratories by 7.0% during the 4th quarter. EWA LLC now owns 12,465 shares of the company’s stock valued at $175,000 after buying an additional 818 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the period. Stifel Financial Corp increased its holdings in shares of Dr. Reddy’s Laboratories by 3.8% during the 4th quarter. Stifel Financial Corp now owns 23,464 shares of the company’s stock worth $329,000 after buying an additional 861 shares during the last quarter. Finally, Groupama Asset Managment raised its position in shares of Dr. Reddy’s Laboratories by 1.7% in the 4th quarter. Groupama Asset Managment now owns 55,419 shares of the company’s stock worth $778,000 after buying an additional 912 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY stock opened at $14.15 on Thursday. The company’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $13.76. Dr. Reddy’s Laboratories Ltd has a 52 week low of $12.19 and a 52 week high of $15.67. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a market cap of $11.81 billion, a PE ratio of 24.41, a P/E/G ratio of 2.01 and a beta of 0.25.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%.The business had revenue of $852.55 million for the quarter, compared to analysts’ expectations of $886.58 million. As a group, equities research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

RDY has been the topic of a number of research reports. The Goldman Sachs Group downgraded Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

About Dr. Reddy’s Laboratories

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.