Dr. Reddy’s Laboratories Ltd $RDY Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 59.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 178,558 shares of the company’s stock after buying an additional 66,697 shares during the quarter. Quadrant Capital Group LLC’s holdings in Dr. Reddy’s Laboratories were worth $2,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its position in 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 worth $138,293,000 after acquiring an additional 434,805 shares during the last quarter. Bessemer Group Inc. grew its stake in Dr. Reddy’s Laboratories by 28.4% in the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock worth $25,253,000 after acquiring an additional 403,219 shares during the period. Quantinno Capital Management LP grew its stake in Dr. Reddy’s Laboratories by 71.2% in the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock worth $8,824,000 after acquiring an additional 264,856 shares during the period. Sei Investments Co. raised its holdings in Dr. Reddy’s Laboratories by 79.3% in the 1st quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock valued at $6,049,000 after acquiring an additional 193,174 shares during the last quarter. Finally, Nykredit A S acquired a new position in Dr. Reddy’s Laboratories in the 2nd quarter valued at $2,000,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Trading Down 0.6%

NYSE RDY opened at $13.19 on Thursday. Dr. Reddy’s Laboratories Ltd has a 12 month low of $11.36 and a 12 month high of $15.67. The company has a 50-day moving average of $12.32 and a 200-day moving average of $12.91. 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 company has a market cap of $11.01 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.76 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data 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). Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. The company had revenue of $850.26 million for the quarter, compared to analysts’ expectations of $850.56 million. As a group, equities analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RDY. Citigroup raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and increased their price target for the stock from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. BNP Paribas Exane upgraded Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 price objective on the stock in a report on Monday, October 12th. Wall Street Zen raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings lowered Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and a consensus target price of $732.40.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy’s offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.