HB Wealth Management LLC Takes $181,000 Position in Dr. Reddy’s Laboratories Ltd $RDY

HB Wealth Management LLC bought a new position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 12,050 shares of the company’s stock, valued at approximately $181,000.

Several other hedge funds have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Dr. Reddy’s Laboratories by 100.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,511 shares of the company’s stock valued at $261,000 after buying an additional 8,262 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Dr. Reddy’s Laboratories during the 4th quarter worth approximately $206,000. GAMMA Investing LLC grew its position in Dr. Reddy’s Laboratories by 971.5% during the 1st quarter. GAMMA Investing LLC now owns 72,848 shares of the company’s stock worth $961,000 after acquiring an additional 66,049 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in Dr. Reddy’s Laboratories in the 1st quarter worth approximately $1,847,000. Finally, Blue Trust Inc. lifted its position in Dr. Reddy’s Laboratories by 27.0% in the first quarter. Blue Trust Inc. now owns 42,003 shares of the company’s stock valued at $554,000 after purchasing an additional 8,918 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a report on Saturday, September 27th. Zacks Research upgraded shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dr. Reddy’s Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $16.95.

Dr. Reddy’s Laboratories Trading Down 0.3%

NYSE:RDY opened at $14.05 on Wednesday. The company has a 50-day moving average price of $14.23 and a 200-day moving average price of $14.27. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 5.69 and a beta of 0.40. 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 Ltd has a 12 month low of $12.26 and a 12 month high of $16.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $988.82 million during the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy’s Laboratories had a net margin of 16.99% and a return on equity of 17.25%. Equities analysts predict 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.