Frank Rimerman Advisors LLC Boosts Stake in Dr. Reddy’s Laboratories Ltd $RDY

Frank Rimerman Advisors LLC raised its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 72.3% during the second quarter, Holdings Channel reports. The firm owned 94,682 shares of the company’s stock after buying an additional 39,719 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aikya Investment Management Ltd lifted its stake in Dr. Reddy’s Laboratories by 2.5% during the 2nd quarter. Aikya Investment Management Ltd now owns 6,354,979 shares of the company’s stock worth $95,515,000 after acquiring an additional 154,604 shares in the last quarter. National Bank of Canada FI increased its stake in Dr. Reddy’s Laboratories by 331.2% during the first quarter. National Bank of Canada FI now owns 71,000 shares of the company’s stock worth $936,000 after purchasing an additional 54,536 shares during the period. Jump Financial LLC lifted its position in shares of Dr. Reddy’s Laboratories by 534.1% during the first 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 in the last quarter. US Bancorp DE boosted its stake in shares of Dr. Reddy’s Laboratories by 21.5% in the second quarter. US Bancorp DE now owns 197,721 shares of the company’s stock valued at $2,972,000 after purchasing an additional 34,943 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Dr. Reddy’s Laboratories by 13.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock valued at $182,816,000 after purchasing an additional 1,452,192 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock opened at $14.03 on Wednesday. The firm has a market capitalization of $11.71 billion, a P/E ratio of 17.32, a P/E/G ratio of 6.22 and a beta of 0.37. 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 Ltd has a 52 week low of $12.26 and a 52 week high of $16.17. The firm’s 50 day moving average is $14.18 and its two-hundred day moving average is $14.42.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Friday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $944.26 million. Research analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RDY shares. Zacks Research upgraded shares of 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.90.

About Dr. Reddy’s Laboratories

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.