Vanguard Group Inc. Has $71.63 Million Stock Position in Dr. Reddy’s Laboratories Ltd $RDY

Vanguard Group Inc. grew its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,123,709 shares of the company’s stock after acquiring an additional 148,662 shares during the period. Vanguard Group Inc. owned about 0.61% of Dr. Reddy’s Laboratories worth $71,629,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Summit Global Investments increased its holdings in Dr. Reddy’s Laboratories by 0.7% in the third quarter. Summit Global Investments now owns 124,364 shares of the company’s stock valued at $1,739,000 after purchasing an additional 856 shares during the period. Groupama Asset Managment raised its position in Dr. Reddy’s Laboratories by 1.8% during the 2nd quarter. Groupama Asset Managment now owns 54,507 shares of the company’s stock worth $821,000 after purchasing an additional 948 shares during the last quarter. Assetmark Inc. lifted its holdings in Dr. Reddy’s Laboratories by 5.2% during the 3rd quarter. Assetmark Inc. now owns 19,837 shares of the company’s stock worth $277,000 after buying an additional 988 shares during the period. Profund Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 7.2% during the 3rd quarter. Profund Advisors LLC now owns 15,305 shares of the company’s stock worth $214,000 after buying an additional 1,026 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Dr. Reddy’s Laboratories by 71.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after buying an additional 1,294 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $14.39 on Friday. The company has a market capitalization of $12.01 billion, a PE ratio of 18.69, a P/E/G ratio of 12.96 and a beta of 0.34. 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 twelve month low of $12.26 and a twelve month high of $16.17. The firm has a fifty day simple moving average of $13.90 and a 200 day simple moving average of $14.06.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. The business had revenue of $969.81 million for the quarter, compared to analysts’ expectations of $963.84 million. On average, sell-side analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.