Allworth Financial LP Buys 776 Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY)

Allworth Financial LP increased its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,504 shares of the company’s stock after buying an additional 776 shares during the quarter. Allworth Financial LP’s holdings in Dr. Reddy’s Laboratories were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its stake in Dr. Reddy’s Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company’s stock valued at $158,489,000 after buying an additional 8,042,163 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 382.9% during the 4th quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock worth $148,717,000 after acquiring an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd increased its holdings in shares of Dr. Reddy’s Laboratories by 416.1% during the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock worth $88,590,000 after acquiring an additional 4,523,303 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Dr. Reddy’s Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after acquiring an additional 4,301,212 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Dr. Reddy’s Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company’s stock valued at $77,311,000 after purchasing an additional 3,911,404 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Trading Down 1.4%

Shares of Dr. Reddy’s Laboratories stock opened at $14.48 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92. The firm has a 50-day moving average of $14.91 and a 200-day moving average of $14.13. Dr. Reddy’s Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.89. The stock has a market cap of $12.09 billion, a PE ratio of 21.94, a PEG ratio of 5.21 and a beta of 0.33.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Dr. Reddy’s Laboratories had a net margin of 17.38% and a return on equity of 17.98%. The business had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. As a group, sell-side analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HSBC raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Wall Street Zen raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, Hsbc Global Res raised Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.95.

Dr. Reddy’s Laboratories Company 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.