Blue Trust Inc. Boosts Stock Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Blue Trust Inc. grew its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,748 shares of the company’s stock after acquiring an additional 6,745 shares during the quarter. Blue Trust Inc.’s holdings in Dr. Reddy’s Laboratories were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of RDY. BNP Paribas Financial Markets boosted its holdings in Dr. Reddy’s Laboratories by 58.0% during the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock worth $60,454,000 after acquiring an additional 1,682,363 shares during the last quarter. Millennium Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 53.1% during the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company’s stock worth $57,297,000 after acquiring an additional 1,506,368 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Dr. Reddy’s Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock worth $182,816,000 after acquiring an additional 1,452,192 shares during the last quarter. Jump Financial LLC boosted its holdings in Dr. Reddy’s Laboratories by 534.1% during the 1st quarter. Jump Financial LLC now owns 147,111 shares of the company’s stock worth $1,940,000 after acquiring an additional 123,911 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 2.2% in the 1st 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 last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RDY. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.95.

Dr. Reddy’s Laboratories Trading Up 1.2%

Shares of Dr. Reddy’s Laboratories stock opened at $14.34 on Friday. Dr. Reddy’s Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.17. The stock’s 50-day simple moving average is $14.24 and its 200 day simple moving average is $14.29. The stock has a market capitalization of $11.97 billion, a P/E ratio of 21.73, a P/E/G ratio of 5.79 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 17.25% and a net margin of 16.99%.The business had revenue of $988.82 million for the quarter, compared to analysts’ expectations of $88.27 billion. As a group, research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

About Dr. Reddy’s Laboratories

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.