Legacy Advisors LLC Invests $41,000 in Dr. Reddy’s Laboratories Ltd (NYSE:RDY)

Legacy Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,125 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RDY. EverSource Wealth Advisors LLC raised its position in shares of Dr. Reddy’s Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after acquiring an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc lifted its position in shares of Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock worth $32,000 after purchasing an additional 1,600 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after buying an additional 2,093 shares during the last quarter. Allworth Financial LP boosted its position in Dr. Reddy’s Laboratories by 447.8% during the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Dr. Reddy’s Laboratories by 623.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company’s stock valued at $48,000 after buying an additional 2,613 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

RDY has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 5th. HSBC raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Finally, Wall Street Zen raised Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.95.

Dr. Reddy’s Laboratories Trading Down 0.6%

Shares of RDY stock opened at $15.50 on Thursday. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.37 and a current ratio of 1.92. The stock’s fifty day moving average price is $14.54 and its two-hundred day moving average price is $14.16. The company has a market cap of $12.94 billion, a PE ratio of 23.48, a P/E/G ratio of 5.51 and a beta of 0.33.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 17.98% and a net margin of 17.38%. The business had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. Equities analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current fiscal 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.