Sei Investments Co. Purchases 193,174 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Sei Investments Co. increased its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 79.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 436,731 shares of the company’s stock after purchasing an additional 193,174 shares during the period. Sei Investments Co.’s holdings in Dr. Reddy’s Laboratories were worth $6,049,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RDY. Rockefeller Capital Management L.P. raised its position in Dr. Reddy’s Laboratories by 67.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after purchasing an additional 821 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Dr. Reddy’s Laboratories by 803.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock valued at $43,000 after buying an additional 2,749 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Dr. Reddy’s Laboratories by 71.7% during the second quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after buying an additional 1,294 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Dr. Reddy’s Laboratories by 81.5% during the fourth quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after buying an additional 1,425 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories in the second quarter worth approximately $67,000. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY stock opened at $12.07 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market capitalization of $10.08 billion, a P/E ratio of 27.43, a P/E/G ratio of 2.38 and a beta of 0.29. The company’s 50-day simple moving average is $13.29 and its two-hundred day simple moving average is $13.56. Dr. Reddy’s Laboratories Ltd has a one year low of $11.36 and a one year high of $15.67.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to the consensus estimate of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. As a group, equities analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.