Bessemer Group Inc. Has $19.94 Million Stock Position in Dr. Reddy’s Laboratories Ltd $RDY

Bessemer Group Inc. raised its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,420,066 shares of the company’s stock after acquiring an additional 69,078 shares during the period. Bessemer Group Inc.’s holdings in Dr. Reddy’s Laboratories were worth $19,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDY. EverSource Wealth Advisors LLC grew its holdings in Dr. Reddy’s Laboratories by 71.7% in the 2nd 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 last quarter. Westside Investment Management Inc. grew its holdings in Dr. Reddy’s Laboratories by 94.8% in the 3rd quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock valued at $65,000 after buying an additional 2,236 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Dr. Reddy’s Laboratories in the 2nd quarter valued at approximately $67,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Dr. Reddy’s Laboratories in the 3rd quarter valued at approximately $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Dr. Reddy’s Laboratories by 13.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock valued at $89,000 after buying an additional 760 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RDY. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Stock Up 0.9%

RDY stock opened at $13.61 on Friday. Dr. Reddy’s Laboratories Ltd has a twelve month low of $12.19 and a twelve month high of $16.17. The company has a market cap of $11.36 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.27. The business’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $13.78. The company has a quick ratio of 1.38, a current ratio of 1.80 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.16% and a net margin of 12.90%.The firm had revenue of $852.55 million for the quarter, compared to analyst estimates of $886.58 million. On average, research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.53 earnings per share 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.