Dr. Reddy’s Laboratories Ltd $RDY Holdings Decreased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its stake in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 51.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,680,810 shares of the company’s stock after selling 9,340,290 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Dr. Reddy’s Laboratories were worth $109,552,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada grew its position in Dr. Reddy’s Laboratories by 4.6% in the 1st quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock valued at $138,293,000 after buying an additional 434,805 shares in the last quarter. Bessemer Group Inc. increased its stake in Dr. Reddy’s Laboratories by 28.4% during the 1st quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after buying an additional 403,219 shares during the period. Quantinno Capital Management LP increased its stake in Dr. Reddy’s Laboratories by 71.2% during the 1st quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after buying an additional 264,856 shares during the period. Sei Investments Co. raised its position in shares of Dr. Reddy’s Laboratories by 79.3% during the 1st quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock worth $6,049,000 after buying an additional 193,174 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth about $2,000,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $13.19 on Thursday. The business’s 50-day moving average price is $12.32 and its 200 day moving average price is $12.91. The firm has a market cap of $11.01 billion, a P/E ratio of 29.97, a PEG ratio of 2.76 and a beta of 0.29. Dr. Reddy’s Laboratories Ltd has a 52-week low of $11.36 and a 52-week high of $15.67. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. The business had revenue of $850.26 million during the quarter, compared to the consensus estimate of $850.56 million. As a group, sell-side analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RDY shares. Citigroup upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and increased their price objective for the company from $1,040.00 to $1,450.00 in a report on Tuesday, September 29th. Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, BNP Paribas Exane upgraded Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 target price for the company in a research report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $732.40.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a global pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic prescription drugs, active pharmaceutical ingredients, biosimilars, specialty products and over-the-counter consumer healthcare products. Dr. Reddy’s offers medicines across therapeutic areas such as cardiovascular care, diabetes, oncology, gastrointestinal health, pain management and dermatology.

The company serves patients and healthcare providers in India, the United States, Europe and a range of other international markets, including emerging markets.