Summit Global Investments Trims Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Summit Global Investments cut its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 11.8% in the first quarter, Holdings Channel.com reports. The fund owned 125,191 shares of the company’s stock after selling 16,711 shares during the quarter. Summit Global Investments’ holdings in Dr. Reddy’s Laboratories were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Dr. Reddy’s Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after acquiring an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company’s stock valued at $32,000 after purchasing an additional 1,600 shares during the period. POM Investment Strategies LLC increased its stake in Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock valued at $36,000 after purchasing an additional 1,820 shares during the period. Farther Finance Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock valued at $40,000 after purchasing an additional 2,093 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Dr. Reddy’s Laboratories in the fourth quarter valued at $43,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Trading Up 1.3%

NYSE RDY opened at $14.75 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm has a market cap of $12.31 billion, a PE ratio of 23.48 and a beta of 0.33. Dr. Reddy’s Laboratories Limited has a one year low of $12.26 and a one year high of $16.89. The firm’s fifty day moving average is $13.66 and its two-hundred day moving average is $14.01.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. The company had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Analysts expect that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th.

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.