Dr. Reddy’s Laboratories Ltd $RDY Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 30.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,350,988 shares of the company’s stock after buying an additional 318,621 shares during the quarter. Bessemer Group Inc. owned about 0.16% of Dr. Reddy’s Laboratories worth $18,887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Dr. Reddy’s Laboratories by 157.7% in the second quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock worth $88,839,000 after acquiring an additional 3,617,435 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Dr. Reddy’s Laboratories by 7.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock valued at $182,921,000 after acquiring an additional 921,078 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company’s stock worth $31,798,000 after acquiring an additional 644,835 shares during the last quarter. Creative Planning boosted its position in shares of Dr. Reddy’s Laboratories by 105.0% during the 2nd quarter. Creative Planning now owns 1,094,932 shares of the company’s stock worth $16,457,000 after purchasing an additional 560,823 shares during the period. Finally, Aikya Investment Management Ltd increased its holdings in Dr. Reddy’s Laboratories by 5.7% in the 3rd quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company’s stock valued at $93,876,000 after purchasing an additional 360,028 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $14.08 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 12.45 and a beta of 0.35. The company’s 50-day moving average is $13.78 and its two-hundred day moving average is $14.03. 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 issued its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%. Research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $16.90.

Dr. Reddy’s Laboratories Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.