Cetera Investment Advisers Decreases Stake in Dr. Reddy’s Laboratories Ltd $RDY

Cetera Investment Advisers reduced its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 7.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,134 shares of the company’s stock after selling 1,586 shares during the period. Cetera Investment Advisers’ holdings in Dr. Reddy’s Laboratories were worth $252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Advisors LLC purchased a new stake in Dr. Reddy’s Laboratories during the 1st quarter worth about $41,000. Tower Research Capital LLC TRC boosted its holdings in Dr. Reddy’s Laboratories by 623.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company’s stock valued at $48,000 after purchasing an additional 2,613 shares during the last quarter. Allworth Financial LP boosted its holdings in Dr. Reddy’s Laboratories by 28.4% in the first quarter. Allworth Financial LP now owns 3,504 shares of the company’s stock valued at $49,000 after purchasing an additional 776 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Dr. Reddy’s Laboratories during the first quarter valued at approximately $62,000. Finally, Natixis raised its stake in Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. Natixis now owns 4,355 shares of the company’s stock valued at $69,000 after buying an additional 3,484 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a 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 note on Thursday, June 5th. Zacks Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, HSBC upgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and upped their target price for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Dr. Reddy’s Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Dr. Reddy’s Laboratories Price Performance

Dr. Reddy’s Laboratories stock opened at $14.3980 on Friday. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.77. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.02 billion, a P/E ratio of 21.82, a PEG ratio of 5.69 and a beta of 0.29. The business has a 50-day moving average of $14.62 and a 200-day moving average of $14.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $988.82 million for the quarter, compared to analysts’ expectations of $88.27 billion. On average, equities analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Dr. Reddy’s Laboratories 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.