Allspring Global Investments Holdings LLC Acquires 9,414 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Allspring Global Investments Holdings LLC raised its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 115,499 shares of the company’s stock after purchasing an additional 9,414 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dr. Reddy’s Laboratories were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Aikya Investment Management Ltd purchased a new stake in Dr. Reddy’s Laboratories in the 4th quarter worth approximately $75,850,000. Bank of America Corp DE boosted its stake in Dr. Reddy’s Laboratories by 1,016.4% during the first quarter. Bank of America Corp DE now owns 514,796 shares of the company’s stock valued at $29,307,000 after buying an additional 468,685 shares during the period. BlackRock Inc. grew its position in Dr. Reddy’s Laboratories by 25.1% during the first quarter. BlackRock Inc. now owns 2,303,063 shares of the company’s stock worth $131,113,000 after buying an additional 462,799 shares in the last quarter. Marshall Wace LLP increased its stake in Dr. Reddy’s Laboratories by 809.4% in the 2nd quarter. Marshall Wace LLP now owns 246,912 shares of the company’s stock worth $15,583,000 after acquiring an additional 219,762 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Dr. Reddy’s Laboratories by 15.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company’s stock valued at $111,882,000 after acquiring an additional 218,605 shares in the last quarter. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RDY. Barclays boosted their price objective on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Finally, Jefferies Financial Group downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.00.

Dr. Reddy’s Laboratories Stock Down 0.3 %

Shares of RDY opened at $71.37 on Thursday. Dr. Reddy’s Laboratories Limited has a 1 year low of $53.12 and a 1 year high of $77.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. The stock has a 50 day simple moving average of $74.54 and a two-hundred day simple moving average of $70.17. The firm has a market cap of $11.91 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.77 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The firm had revenue of $867.00 million during the quarter, compared to analyst estimates of $827.81 million. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. On average, analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current fiscal year.

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.