Tower Research Capital LLC TRC purchased a new position in Dr.Reddy’s Laboratories Ltd (NYSE:RDY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,210 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Advisors Inc. boosted its holdings in Dr.Reddy’s Laboratories by 93.3% in the first quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock worth $38,000 after acquiring an additional 458 shares in the last quarter. Advisors Preferred LLC acquired a new position in Dr.Reddy’s Laboratories in the second quarter valued at approximately $55,000. Quantamental Technologies LLC acquired a new position in Dr.Reddy’s Laboratories in the second quarter valued at approximately $102,000. Signaturefd LLC lifted its holdings in Dr.Reddy’s Laboratories by 9.4% in the first quarter. Signaturefd LLC now owns 3,643 shares of the company’s stock valued at $148,000 after acquiring an additional 312 shares during the period. Finally, Advisor Group Inc. lifted its holdings in Dr.Reddy’s Laboratories by 167.7% in the second quarter. Advisor Group Inc. now owns 3,692 shares of the company’s stock valued at $138,000 after acquiring an additional 2,313 shares during the period. 13.05% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on RDY. Zacks Investment Research upgraded Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, July 19th. TheStreet upgraded Dr.Reddy’s Laboratories from a “c” rating to a “b-” rating in a research report on Thursday, August 15th. Credit Suisse Group upgraded Dr.Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Wednesday, September 4th. Barclays began coverage on Dr.Reddy’s Laboratories in a research report on Tuesday, June 11th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Deutsche Bank began coverage on Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.50.

Shares of Dr.Reddy’s Laboratories stock traded up $1.10 on Friday, reaching $39.11. The company’s stock had a trading volume of 440,290 shares, compared to its average volume of 173,289. The company has a market capitalization of $6.49 billion, a P/E ratio of 23.85 and a beta of 0.18. Dr.Reddy’s Laboratories Ltd has a 52-week low of $31.58 and a 52-week high of $42.82. The stock has a 50-day moving average price of $36.44 and a 200-day moving average price of $38.32. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.11.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.18. The business had revenue of $558.00 million during the quarter. Dr.Reddy’s Laboratories had a return on equity of 14.94% and a net margin of 13.44%. Sell-side analysts forecast that Dr.Reddy’s Laboratories Ltd will post 2.06 earnings per share for the current fiscal year.

Dr.Reddy’s Laboratories Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.

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Institutional Ownership by Quarter for Dr.Reddy`s Laboratories (NYSE:RDY)

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