SG Americas Securities LLC Purchases New Stake in Dr. Reddy’s Laboratories Ltd $RDY

SG Americas Securities LLC acquired a new position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 82,316 shares of the company’s stock, valued at approximately $1,140,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the period. Russell Investments Group Ltd. grew its position in shares of Dr. Reddy’s Laboratories by 803.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,091 shares of the company’s stock worth $43,000 after buying an additional 2,749 shares during the period. Larson Financial Group LLC raised 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 worth $45,000 after buying an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 71.7% in 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 period. Finally, Public Employees Retirement System of Ohio bought a new position in Dr. Reddy’s Laboratories in the fourth quarter valued at approximately $66,000. 3.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on RDY shares. The Goldman Sachs Group cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Price Performance

RDY opened at $14.39 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 0.03. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.19 and a 12 month high of $15.67. The company has a fifty day simple moving average of $13.64 and a 200 day simple moving average of $13.75. The stock has a market cap of $12.01 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.98 and a beta of 0.25.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $852.55 million for the quarter, compared to the consensus estimate of $886.58 million. Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%. On average, research analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current year.

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.