Nykredit A S Purchases Shares of 137,993 Dr. Reddy’s Laboratories Ltd $RDY

Nykredit A S acquired a new stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the 2nd quarter, Holdings Channel reports. The firm acquired 137,993 shares of the company’s stock, valued at approximately $2,000,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in Dr. Reddy’s Laboratories by 4.6% in the first quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock valued at $138,293,000 after acquiring an additional 434,805 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Dr. Reddy’s Laboratories by 28.4% in the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after purchasing an additional 403,219 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Dr. Reddy’s Laboratories by 71.2% in the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after purchasing an additional 264,856 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at $1,422,000. Finally, Frank Rimerman Advisors LLC lifted its position in shares of Dr. Reddy’s Laboratories by 185.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 174,383 shares of the company’s stock worth $2,415,000 after purchasing an additional 113,367 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $11.97 on Tuesday. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.28. Dr. Reddy’s Laboratories Ltd has a 52-week low of $11.36 and a 52-week high of $15.67. 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 stock has a 50 day moving average price of $12.54 and a 200 day moving average price of $13.30.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to analyst estimates of $850.56 million. Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. Research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on RDY shares. Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Dr. Reddy’s Laboratories has an average rating of “Reduce”.

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.