Dalton Investments LLC Has $8.13 Million Stock Position in Dr.Reddy’s Laboratories Ltd (NYSE:RDY)

Dalton Investments LLC cut its position in Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,900 shares of the company’s stock after selling 21,900 shares during the quarter. Dr.Reddy’s Laboratories accounts for about 3.7% of Dalton Investments LLC’s holdings, making the stock its 9th biggest holding. Dalton Investments LLC’s holdings in Dr.Reddy’s Laboratories were worth $8,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RDY. Bank of America Corp DE raised its position in Dr.Reddy’s Laboratories by 49.3% in the fourth quarter. Bank of America Corp DE now owns 13,059 shares of the company’s stock valued at $493,000 after purchasing an additional 4,311 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dr.Reddy’s Laboratories by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 921,688 shares of the company’s stock worth $34,751,000 after acquiring an additional 3,272 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Dr.Reddy’s Laboratories by 172.1% during the first quarter. Parallel Advisors LLC now owns 1,045 shares of the company’s stock worth $42,000 after acquiring an additional 661 shares during the last quarter. Comerica Bank raised its position in shares of Dr.Reddy’s Laboratories by 7.4% during the first quarter. Comerica Bank now owns 10,440 shares of the company’s stock worth $418,000 after acquiring an additional 723 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in shares of Dr.Reddy’s Laboratories by 93.3% during the first quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock worth $38,000 after acquiring an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 13.05% of the company’s stock.

RDY has been the subject of a number of analyst reports. Macquarie upgraded Dr.Reddy’s Laboratories from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. Credit Suisse Group upgraded Dr.Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, July 19th. TheStreet upgraded Dr.Reddy’s Laboratories from a “c” rating to a “b-” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley downgraded Dr.Reddy’s Laboratories from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.50.

Shares of RDY opened at $38.84 on Friday. Dr.Reddy’s Laboratories Ltd has a 1 year low of $31.58 and a 1 year high of $42.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.32. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 23.68 and a beta of 0.18. The business has a 50-day moving average of $36.33 and a 200-day moving average of $38.28.

Dr.Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.18. Dr.Reddy’s Laboratories had a return on equity of 14.94% and a net margin of 13.44%. The company had revenue of $558.00 million during the quarter. As a group, sell-side analysts anticipate that Dr.Reddy’s Laboratories Ltd will post 2.06 EPS for the current year.

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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Institutional Ownership by Quarter for Dr.Reddy`s Laboratories (NYSE:RDY)

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