West Family Investments Inc. Buys 23,966 Shares of Dr. Reddy’s Laboratories Ltd $RDY

West Family Investments Inc. boosted its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 37.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 88,565 shares of the company’s stock after buying an additional 23,966 shares during the quarter. West Family Investments Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,331,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group increased its position in Dr. Reddy’s Laboratories by 11.0% during the second quarter. Schroder Investment Management Group now owns 329,939 shares of the company’s stock valued at $4,959,000 after acquiring an additional 32,617 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth about $236,000. Groupama Asset Managment grew its holdings in Dr. Reddy’s Laboratories by 1.8% during the 2nd quarter. Groupama Asset Managment now owns 54,507 shares of the company’s stock valued at $821,000 after purchasing an additional 948 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Dr. Reddy’s Laboratories in the 2nd quarter worth about $133,000. Finally, Quadrant Capital Group LLC raised its position in Dr. Reddy’s Laboratories by 71.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 266,115 shares of the company’s stock worth $4,000,000 after purchasing an additional 111,068 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Up 0.4%

Shares of NYSE:RDY opened at $14.05 on Friday. The business’s 50 day moving average is $14.05 and its 200 day moving average is $14.43. The stock has a market cap of $11.73 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 6.22 and a beta of 0.37. Dr. Reddy’s Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.17. 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 issued its earnings results on Friday, October 24th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $21.35 million during the quarter, compared to analysts’ expectations of $944.26 million. Dr. Reddy’s Laboratories had a return on equity of 17.13% and a net margin of 17.14%. Sell-side analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on RDY. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Dr. Reddy’s Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $16.90.

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.