Bellevue Group AG Cuts Stock Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Bellevue Group AG lessened its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,900 shares of the company’s stock after selling 19,300 shares during the quarter. Bellevue Group AG’s holdings in Dr. Reddy’s Laboratories were worth $4,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at about $34,000. CWM LLC increased its holdings in Dr. Reddy’s Laboratories by 37.9% during the 4th quarter. CWM LLC now owns 2,174 shares of the company’s stock worth $151,000 after acquiring an additional 598 shares during the period. Trexquant Investment LP purchased a new stake in Dr. Reddy’s Laboratories in the 4th quarter worth approximately $219,000. Blue Trust Inc. boosted its holdings in Dr. Reddy’s Laboratories by 77.3% in the 4th quarter. Blue Trust Inc. now owns 3,378 shares of the company’s stock valued at $227,000 after purchasing an additional 1,473 shares during the period. Finally, Team Hewins LLC purchased a new position in shares of Dr. Reddy’s Laboratories during the 4th quarter valued at $239,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RDY. Barclays lifted their target price on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $72.58 on Tuesday. The firm’s 50-day moving average price is $71.40 and its two-hundred day moving average price is $71.51. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.58 and a beta of 0.52. The company has a current ratio of 2.58, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 12-month low of $56.81 and a 12-month high of $77.72.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $825.20 million. Dr. Reddy’s Laboratories had a net margin of 19.97% and a return on equity of 21.27%. As a group, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 4.09 earnings per share 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.