American Century Companies Inc. Increases Position in Dr. Reddy’s Laboratories Ltd $RDY

American Century Companies Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 914,473 shares of the company’s stock after purchasing an additional 52,108 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Dr. Reddy’s Laboratories worth $12,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Costello Asset Management INC purchased a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter valued at approximately $26,000. Legacy Advisors LLC acquired a new position in Dr. Reddy’s Laboratories during the first quarter worth $41,000. Tower Research Capital LLC TRC lifted its holdings in 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 purchasing an additional 2,613 shares in the last quarter. Allworth Financial LP grew its position in shares of 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 period. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories during the first quarter worth about $62,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RDY. Hsbc Global Res raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 5th. HSBC upgraded 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. Zacks Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. One equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.95.

Dr. Reddy’s Laboratories Stock Performance

NYSE RDY opened at $14.4550 on Tuesday. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.77. The firm has a market capitalization of $12.07 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 5.86 and a beta of 0.29. The stock’s fifty day moving average is $14.57 and its two-hundred day moving average is $14.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping 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 analyst estimates of $88.27 billion. On average, research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share 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.