Fisher Asset Management LLC Sells 522,987 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Fisher Asset Management LLC trimmed its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 20.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019,515 shares of the company’s stock after selling 522,987 shares during the period. Fisher Asset Management LLC owned approximately 0.24% of Dr. Reddy’s Laboratories worth $30,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RDY. Ascent Group LLC raised its stake in 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 purchasing an additional 754 shares in the last quarter. Groupama Asset Managment increased its holdings in shares of Dr. Reddy’s Laboratories by 1.8% in the 2nd quarter. Groupama Asset Managment now owns 54,507 shares of the company’s stock worth $821,000 after buying an additional 948 shares during the last quarter. Greenleaf Trust raised its position in shares of Dr. Reddy’s Laboratories by 0.9% during the 2nd quarter. Greenleaf Trust now owns 118,469 shares of the company’s stock valued at $1,781,000 after buying an additional 1,028 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Dr. Reddy’s Laboratories by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company’s stock valued at $524,000 after buying an additional 1,099 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of 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. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Up 1.3%

NYSE:RDY opened at $14.12 on Wednesday. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 6.22 and a beta of 0.39. Dr. Reddy’s Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.17. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $14.03 and a 200-day simple moving average of $14.43.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Friday, October 24th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The firm had revenue of $21.35 million for the quarter, compared to analysts’ expectations of $944.26 million. Analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Analyst Ratings Changes

RDY has been the topic of a number of recent research 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 reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research report on Wednesday, October 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 company’s stock. According to MarketBeat.com, Dr. Reddy’s Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $16.90.

Dr. Reddy’s Laboratories Company 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.