Royal Bank of Canada Buys 434,805 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Royal Bank of Canada lifted its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,984,082 shares of the company’s stock after buying an additional 434,805 shares during the period. Royal Bank of Canada owned about 1.20% of Dr. Reddy’s Laboratories worth $138,293,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RDY. Rockefeller Capital Management L.P. boosted its holdings in Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Dr. Reddy’s Laboratories by 803.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after purchasing an additional 2,749 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 81.5% in the fourth quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after purchasing an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at about $66,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen downgraded Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE:RDY opened at $11.86 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $9.90 billion, a PE ratio of 26.94, a P/E/G ratio of 2.36 and a beta of 0.25. Dr. Reddy’s Laboratories Ltd has a twelve month low of $11.36 and a twelve month high of $15.67. The company has a 50-day moving average price of $13.35 and a two-hundred day moving average price of $13.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $850.26 million during the quarter, compared to the consensus estimate of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. Equities analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.47 EPS for the current year.

About Dr. Reddy’s Laboratories

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.