JPMorgan Chase & Co. Has $84.27 Million Holdings in Dr. Reddy’s Laboratories Ltd $RDY

JPMorgan Chase & Co. raised its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,027,710 shares of the company’s stock after purchasing an additional 116,924 shares during the period. JPMorgan Chase & Co. owned 0.72% of Dr. Reddy’s Laboratories worth $84,267,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Bleakley Financial Group LLC acquired a new position in Dr. Reddy’s Laboratories in the second quarter worth approximately $223,000. Bessemer Group Inc. grew its position in Dr. Reddy’s Laboratories by 19.5% in the second quarter. Bessemer Group Inc. now owns 1,032,367 shares of the company’s stock worth $15,517,000 after acquiring an additional 168,487 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Dr. Reddy’s Laboratories by 2,279.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 11,681 shares of the company’s stock worth $176,000 after purchasing an additional 11,190 shares during the last quarter. Atria Investments Inc increased its stake in shares of Dr. Reddy’s Laboratories by 206.5% during the 2nd quarter. Atria Investments Inc now owns 32,733 shares of the company’s stock worth $492,000 after purchasing an additional 22,052 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 88.4% during the 2nd quarter. Simon Quick Advisors LLC now owns 19,210 shares of the company’s stock valued at $289,000 after purchasing an additional 9,011 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Trading Up 1.5%

NYSE:RDY opened at $14.71 on Tuesday. The company’s 50 day moving average is $13.84 and its 200-day moving average is $14.04. The company has a quick ratio of 1.38, a current ratio of 1.88 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 firm has a market cap of $12.27 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 13.16 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $969.81 million during the quarter, compared to the consensus estimate of $963.84 million. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. Equities analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dr. Reddy’s Laboratories has a consensus rating of “Hold” and a consensus price target of $16.90.

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.