Deutsche Bank AG Cuts Stock Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Deutsche Bank AG decreased its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,687 shares of the company’s stock after selling 20,915 shares during the period. Deutsche Bank AG’s holdings in Dr. Reddy’s Laboratories were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at approximately $26,000. Legacy Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC boosted its position in shares of Dr. Reddy’s Laboratories by 623.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company’s stock valued at $48,000 after buying an additional 2,613 shares during the last quarter. Allworth Financial LP boosted its position in shares of Dr. Reddy’s Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company’s stock valued at $49,000 after buying an additional 776 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Dr. Reddy’s Laboratories during the first quarter valued at approximately $62,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. 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. Finally, HSBC raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.44 to $16.90 in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.95.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $14.3980 on Friday. The firm has a market cap of $12.02 billion, a PE ratio of 21.82, a PEG ratio of 5.69 and a beta of 0.29. The stock’s fifty day moving average price is $14.62 and its two-hundred day moving average price is $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.77.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy’s Laboratories had a return on equity of 17.25% and a net margin of 16.99%. On average, equities research 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.