Dr. Reddy’s Laboratories Ltd $RDY Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 19.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,032,367 shares of the company’s stock after purchasing an additional 168,487 shares during the quarter. Bessemer Group Inc. owned approximately 0.12% of Dr. Reddy’s Laboratories worth $15,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDY. BNP Paribas Financial Markets boosted its position in Dr. Reddy’s Laboratories by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock worth $60,454,000 after acquiring an additional 1,682,363 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Dr. Reddy’s Laboratories by 53.1% during the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company’s stock worth $57,297,000 after purchasing an additional 1,506,368 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dr. Reddy’s Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock worth $182,816,000 after purchasing an additional 1,452,192 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Dr. Reddy’s Laboratories by 534.1% during the 1st quarter. Jump Financial LLC now owns 147,111 shares of the company’s stock worth $1,940,000 after purchasing an additional 123,911 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Dr. Reddy’s Laboratories by 37.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 441,451 shares of the company’s stock worth $6,635,000 after purchasing an additional 120,180 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock opened at $14.59 on Wednesday. Dr. Reddy’s Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.17. The business’s fifty day simple moving average is $14.37 and its 200-day simple moving average is $14.43. The firm has a market cap of $12.18 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 5.99 and a beta of 0.40. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Friday, October 24th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $944.26 million. Equities analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

RDY has been the topic of a number of recent research reports. Zacks Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research report on Wednesday, October 8th. One research 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 company. According to MarketBeat.com, Dr. Reddy’s Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $16.95.

Dr. Reddy’s Laboratories Company 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.