Drive Wealth Management LLC purchased a new stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,701 shares of the company’s stock, valued at approximately $206,000.
Several other institutional investors have also modified their holdings of RDY. Adero Partners LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the second quarter valued at approximately $304,000. Signaturefd LLC boosted its position in Dr. Reddy’s Laboratories by 9.5% during the 2nd quarter. Signaturefd LLC now owns 24,704 shares of the company’s stock worth $1,882,000 after acquiring an additional 2,144 shares during the period. Wealthstream Advisors Inc. bought a new stake in shares of Dr. Reddy’s Laboratories during the second quarter valued at about $203,000. Panagora Asset Management Inc. lifted its holdings in Dr. Reddy’s Laboratories by 20.8% in the second quarter. Panagora Asset Management Inc. now owns 151,841 shares of the company’s stock worth $11,569,000 after purchasing an additional 26,165 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Dr. Reddy’s Laboratories by 23.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 31,500 shares of the company’s stock valued at $2,375,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.
Dr. Reddy’s Laboratories Stock Up 1.5 %
NYSE RDY opened at $83.47 on Monday. Dr. Reddy’s Laboratories Limited has a 12 month low of $63.72 and a 12 month high of $84.46. The company has a market capitalization of $13.93 billion, a P/E ratio of 20.71, a PEG ratio of 1.84 and a beta of 0.56. The company’s 50 day simple moving average is $80.01 and its 200 day simple moving average is $75.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. Barclays upped their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.
Read Our Latest Research Report on RDY
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.
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