Allspring Global Investments Holdings LLC Acquires 9,414 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Allspring Global Investments Holdings LLC raised its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,499 shares of the company’s stock after acquiring an additional 9,414 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Dr. Reddy’s Laboratories worth $8,036,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FSC Wealth Advisors LLC bought a new position in Dr. Reddy’s Laboratories in the 3rd quarter valued at approximately $40,000. Harbour Investments Inc. increased its holdings in shares of Dr. Reddy’s Laboratories by 2,884.6% during the third quarter. Harbour Investments Inc. now owns 776 shares of the company’s stock worth $52,000 after buying an additional 750 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 84.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,905 shares of the company’s stock valued at $120,000 after acquiring an additional 874 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Dr. Reddy’s Laboratories by 3,440.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,947 shares of the company’s stock valued at $130,000 after acquiring an additional 1,892 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Dr. Reddy’s Laboratories by 103.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,064 shares of the company’s stock worth $193,000 after acquiring an additional 1,558 shares during the last quarter. 14.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on RDY. Barclays lifted their price target on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group cut shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.00.

Dr. Reddy’s Laboratories Trading Down 0.3 %

Shares of RDY stock opened at $71.37 on Thursday. Dr. Reddy’s Laboratories Limited has a 1-year low of $53.12 and a 1-year high of $77.72. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.77 and a beta of 0.58. The stock has a 50-day moving average of $74.54 and a 200-day moving average of $70.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. The business had revenue of $867.00 million during the quarter, compared to the consensus estimate of $827.81 million. On average, equities research analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current 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.