Cerity Partners LLC Buys 88,628 Shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY)

Cerity Partners LLC raised its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 85.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,217 shares of the company’s stock after acquiring an additional 88,628 shares during the quarter. Cerity Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $2,535,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of Dr. Reddy’s Laboratories by 271.5% during the fourth quarter. Bank of New York Mellon Corp now owns 82,006 shares of the company’s stock worth $1,295,000 after purchasing an additional 59,930 shares during the period. HighTower Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories during the fourth quarter worth approximately $472,000. Farther Finance Advisors LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after purchasing an additional 2,093 shares during the period. Natixis Advisors LLC boosted its position in shares of Dr. Reddy’s Laboratories by 422.7% during the 4th quarter. Natixis Advisors LLC now owns 57,166 shares of the company’s stock worth $903,000 after acquiring an additional 46,229 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Dr. Reddy’s Laboratories by 447.3% during the 4th quarter. Corient Private Wealth LLC now owns 157,338 shares of the company’s stock worth $2,484,000 after acquiring an additional 128,590 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dr. Reddy’s Laboratories Trading Down 1.4%

NYSE:RDY opened at $14.48 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.37. The firm has a 50-day moving average of $14.91 and a 200-day moving average of $14.12. The company has a market cap of $12.09 billion, a PE ratio of 21.94, a PEG ratio of 5.13 and a beta of 0.33. Dr. Reddy’s Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $83.70 billion. As a group, equities research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS 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, as well as engages in the biologics business.