Desjardins Global Asset Management Inc. Purchases 255 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Desjardins Global Asset Management Inc. lifted its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,786 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DGS Capital Management LLC grew its stake in shares of Dr. Reddy’s Laboratories by 11.9% during the 4th quarter. DGS Capital Management LLC now owns 8,616 shares of the company’s stock worth $600,000 after acquiring an additional 918 shares during the period. Janiczek Wealth Management LLC lifted its holdings in Dr. Reddy’s Laboratories by 18.3% during the 4th quarter. Janiczek Wealth Management LLC now owns 4,437 shares of the company’s stock worth $309,000 after purchasing an additional 685 shares in the last quarter. Cerity Partners LLC lifted its holdings in Dr. Reddy’s Laboratories by 13.7% during the 4th quarter. Cerity Partners LLC now owns 12,508 shares of the company’s stock worth $870,000 after purchasing an additional 1,504 shares in the last quarter. Lester Murray Antman dba SimplyRich purchased a new stake in Dr. Reddy’s Laboratories during the 4th quarter worth about $411,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 3.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,294 shares of the company’s stock worth $995,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com raised Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Barclays increased their price objective on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group cut Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.00.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $70.92 on Friday. The business’s 50-day moving average price is $74.50 and its two-hundred day moving average price is $70.17. Dr. Reddy’s Laboratories Limited has a twelve month low of $53.12 and a twelve month high of $77.72. The stock has a market cap of $11.84 billion, a P/E ratio of 18.71, a PEG ratio of 1.79 and a beta of 0.58. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. The firm had revenue of $867.00 million for the quarter, compared to analysts’ expectations of $827.81 million. As a group, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current fiscal year.

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.