OMERS ADMINISTRATION Corp Boosts Holdings in Dr. Reddy’s Laboratories Ltd $RDY

OMERS ADMINISTRATION Corp increased its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 19.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 164,535 shares of the company’s stock after acquiring an additional 26,300 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Dr. Reddy’s Laboratories were worth $2,473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDY. Robeco Institutional Asset Management B.V. raised its holdings in Dr. Reddy’s Laboratories by 13.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock valued at $182,816,000 after buying an additional 1,452,192 shares during the period. Aikya Investment Management Ltd lifted its holdings in shares of Dr. Reddy’s Laboratories by 2.5% in the 2nd quarter. Aikya Investment Management Ltd now owns 6,354,979 shares of the company’s stock worth $95,515,000 after acquiring an additional 154,604 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Dr. Reddy’s Laboratories by 157.7% during the second quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock worth $88,839,000 after purchasing an additional 3,617,435 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Dr. Reddy’s Laboratories by 2.2% during the first quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company’s stock worth $65,985,000 after buying an additional 106,457 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Dr. Reddy’s Laboratories by 58.0% in the first quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock valued at $60,454,000 after buying an additional 1,682,363 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RDY. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dr. Reddy’s Laboratories presently has an average rating of “Moderate Buy” and an average target price of $16.90.

Dr. Reddy’s Laboratories Trading Down 0.8%

NYSE RDY opened at $13.94 on Tuesday. Dr. Reddy’s Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.17. The firm has a 50 day moving average of $14.03 and a two-hundred day moving average of $14.43. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $11.64 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 6.22 and a beta of 0.37.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Friday, October 24th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The company had revenue of $21.35 million for the quarter, compared to analyst estimates of $944.26 million. As a group, research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Dr. Reddy’s Laboratories Company 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, as well as engages in the biologics business.