Dr. Reddy’s Laboratories Ltd $RDY Shares Purchased by Canopy Partners LLC

Canopy Partners LLC raised its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 23.5% in the second quarter, Holdings Channel.com reports. The firm owned 20,444 shares of the company’s stock after acquiring an additional 3,893 shares during the period. Canopy Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in Dr. Reddy’s Laboratories by 7.4% during the 2nd quarter. Ascent Group LLC now owns 10,885 shares of the company’s stock worth $164,000 after purchasing an additional 754 shares in the last quarter. Allworth Financial LP grew its position in Dr. Reddy’s Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company’s stock worth $49,000 after purchasing an additional 776 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 2.8% in the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company’s stock worth $446,000 after acquiring an additional 880 shares during the period. Wealth Enhancement Advisory Services LLC lifted 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 worth $183,000 after purchasing an additional 883 shares during the last quarter. Finally, Greenleaf Trust raised its stake in shares of Dr. Reddy’s Laboratories by 0.9% during the second quarter. Greenleaf Trust now owns 118,469 shares of the company’s stock valued at $1,781,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Down 0.3%

NYSE:RDY opened at $14.05 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The company’s fifty day moving average price is $14.23 and its 200-day moving average price is $14.27. The firm has a market capitalization of $11.73 billion, a P/E ratio of 21.28, a PEG ratio of 5.69 and a beta of 0.40.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Dr. Reddy’s Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The company had revenue of $988.82 million during the quarter, compared to the consensus estimate of $88.27 billion. As a group, equities research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

RDY has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Saturday, September 27th. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories has an average rating of “Moderate Buy” and an average target price of $16.95.

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.