Envestnet Asset Management Inc. Cuts Stock Holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY)

Envestnet Asset Management Inc. reduced its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 80.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,861 shares of the company’s stock after selling 133,227 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $420,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RDY. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Dr. Reddy’s Laboratories by 6.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,826 shares of the company’s stock worth $262,000 after acquiring an additional 1,160 shares in the last quarter. PDS Planning Inc lifted its position in shares of Dr. Reddy’s Laboratories by 22.2% during the first quarter. PDS Planning Inc now owns 39,415 shares of the company’s stock valued at $520,000 after purchasing an additional 7,161 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Dr. Reddy’s Laboratories by 10.3% during the first quarter. Bessemer Group Inc. now owns 863,880 shares of the company’s stock worth $11,395,000 after purchasing an additional 81,024 shares during the last quarter. Legacy Advisors LLC bought a new stake in Dr. Reddy’s Laboratories in the 1st quarter worth about $41,000. Finally, Blue Trust Inc. increased its stake in Dr. Reddy’s Laboratories by 27.0% in the 1st quarter. Blue Trust Inc. now owns 42,003 shares of the company’s stock valued at $554,000 after buying an additional 8,918 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Price Performance

Dr. Reddy’s Laboratories stock opened at $13.36 on Thursday. The business’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $14.03. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.89. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 5.47 and a beta of 0.29. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 17.25% and a net margin of 16.99%. The firm had revenue of $988.82 million for the quarter, compared to analysts’ expectations of $88.27 billion. Sell-side analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current 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.