Nordea Investment Management AB Boosts Stock Position in Dr. Reddy’s Laboratories Ltd $RDY

Nordea Investment Management AB increased its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,269 shares of the company’s stock after purchasing an additional 7,412 shares during the period. Nordea Investment Management AB’s holdings in Dr. Reddy’s Laboratories were worth $2,206,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ascent Group LLC grew its stake in shares of Dr. Reddy’s Laboratories by 7.4% in the 2nd quarter. Ascent Group LLC now owns 10,885 shares of the company’s stock worth $164,000 after buying an additional 754 shares in the last quarter. Allworth Financial LP raised its position in Dr. Reddy’s Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company’s stock valued at $49,000 after purchasing an additional 776 shares during the period. Bridgewater Advisors Inc. raised its holdings in Dr. Reddy’s Laboratories by 2.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company’s stock valued at $446,000 after buying an additional 880 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Dr. Reddy’s Laboratories by 6.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company’s stock valued at $183,000 after acquiring an additional 883 shares during the last quarter. Finally, Greenleaf Trust raised its stake in shares of Dr. Reddy’s Laboratories by 0.9% in the second quarter. Greenleaf Trust now owns 118,469 shares of the company’s stock valued at $1,781,000 after acquiring an additional 1,028 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RDY shares. Zacks Research raised shares of Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dr. Reddy’s Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Dr. Reddy’s Laboratories Trading Up 0.8%

RDY stock opened at $14.85 on Thursday. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.17. The firm’s 50-day moving average is $14.34 and its 200 day moving average is $14.35. The company has a market capitalization of $12.40 billion, a PE ratio of 22.51, a P/E/G ratio of 5.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36.

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

Dr. Reddy’s Laboratories 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.