BlackRock Inc. boosted its holdings in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,735,559 shares of the company’s stock after buying an additional 175,791 shares during the quarter. BlackRock Inc.’s holdings in Dr.Reddy’s Laboratories were worth $60,049,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. acquired a new stake in Dr.Reddy’s Laboratories during the 3rd quarter worth approximately $623,000. Advisors Asset Management Inc. lifted its holdings in Dr.Reddy’s Laboratories by 29,814.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 863,638 shares of the company’s stock worth $119,000 after buying an additional 860,751 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Dr.Reddy’s Laboratories by 3,398.8% during the 2nd quarter. Renaissance Technologies LLC now owns 573,810 shares of the company’s stock worth $18,477,000 after buying an additional 557,410 shares in the last quarter. Northern Trust Corp lifted its holdings in Dr.Reddy’s Laboratories by 4.9% during the 2nd quarter. Northern Trust Corp now owns 380,284 shares of the company’s stock worth $12,245,000 after buying an additional 17,599 shares in the last quarter. Finally, Greenleaf Trust increased its position in shares of Dr.Reddy’s Laboratories by 24.9% in the 3rd quarter. Greenleaf Trust now owns 8,379 shares of the company’s stock valued at $290,000 after purchasing an additional 1,671 shares during the last quarter. Institutional investors own 11.39% of the company’s stock.
Shares of NYSE:RDY opened at $36.90 on Friday. Dr.Reddy’s Laboratories Ltd has a 52 week low of $28.13 and a 52 week high of $39.96. The company has a current ratio of 1.62, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 36.57 and a beta of 0.15.
Dr.Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.42 EPS for the quarter. Dr.Reddy’s Laboratories had a net margin of 10.62% and a return on equity of 13.14%. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $522.22 million. On average, research analysts forecast that Dr.Reddy’s Laboratories Ltd will post 1.42 earnings per share for the current year.
A number of equities research analysts have commented on RDY shares. Zacks Investment Research raised shares of Dr.Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a research report on Monday, November 26th. ValuEngine downgraded shares of Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th.
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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