Ballentine Partners LLC Trims Stock Position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY)

Ballentine Partners LLC lowered its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 28.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 75,108 shares of the company’s stock after selling 29,607 shares during the period. Ballentine Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its stake 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 acquiring an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Dr. Reddy’s Laboratories by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company’s stock valued at $433,000 after acquiring an additional 831 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 in the last quarter. Foster Group Inc. grew its stake in Dr. Reddy’s Laboratories by 8.3% during the first quarter. Foster Group Inc. now owns 14,838 shares of the company’s stock valued at $196,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Dr. Reddy’s Laboratories by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,826 shares of the company’s stock valued at $262,000 after acquiring an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on RDY shares. Wall Street Zen raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. HSBC raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and boosted their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Hsbc Global Res raised shares of Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.95.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $14.51 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.37. Dr. Reddy’s Laboratories Ltd has a one year low of $12.26 and a one year high of $16.89. The stock has a market cap of $12.11 billion, a PE ratio of 21.98, a P/E/G ratio of 5.14 and a beta of 0.33. The firm has a 50 day simple moving average of $14.80 and a two-hundred day simple moving average of $14.15.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Dr. Reddy’s Laboratories had a net margin of 17.38% and a return on equity of 17.98%. The company had revenue of $996.17 million during the quarter, compared to analysts’ expectations of $83.70 billion. On average, 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.