American Century Companies Inc. Acquires 133,045 Shares of Dr. Reddy’s Laboratories Ltd $RDY

American Century Companies Inc. boosted its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,047,518 shares of the company’s stock after purchasing an additional 133,045 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of Dr. Reddy’s Laboratories worth $15,744,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RDY. Ascent Group LLC raised its position in shares of Dr. Reddy’s Laboratories by 7.4% during the second quarter. Ascent Group LLC now owns 10,885 shares of the company’s stock valued at $164,000 after buying an additional 754 shares during the last quarter. Greenleaf Trust grew its stake in Dr. Reddy’s Laboratories by 0.9% during the second quarter. Greenleaf Trust now owns 118,469 shares of the company’s stock valued at $1,781,000 after acquiring an additional 1,028 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Dr. Reddy’s Laboratories by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company’s stock valued at $524,000 after acquiring an additional 1,099 shares in the last quarter. Allworth Financial LP increased its holdings in Dr. Reddy’s Laboratories by 37.8% in the 2nd quarter. Allworth Financial LP now owns 4,827 shares of the company’s stock valued at $73,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Dr. Reddy’s Laboratories by 7.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,368 shares of the company’s stock worth $321,000 after purchasing an additional 1,542 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the subject of a number of research analyst reports. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday, October 8th. One investment 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 stock. According to data from MarketBeat, Dr. Reddy’s Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE:RDY opened at $14.12 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.03. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.17. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 6.22 and a beta of 0.39. The firm’s 50-day moving average is $14.03 and its 200 day moving average is $14.43.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Friday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $21.35 million during the quarter, compared to analyst estimates of $944.26 million. Dr. Reddy’s Laboratories had a return on equity of 17.13% and a net margin of 17.14%. Research analysts predict 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.