Bank of New York Mellon Corp Buys 489 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Bank of New York Mellon Corp raised its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,768 shares of the company’s stock after acquiring an additional 489 shares during the period. Bank of New York Mellon Corp’s holdings in Dr. Reddy’s Laboratories were worth $2,040,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Balentine LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 28.9% during the fourth quarter. Balentine LLC now owns 8,578 shares of the company’s stock valued at $597,000 after acquiring an additional 1,924 shares during the period. Trexquant Investment LP acquired a new position in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at $219,000. Assetmark Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 3.2% during the fourth quarter. Assetmark Inc. now owns 47,711 shares of the company’s stock valued at $3,320,000 after acquiring an additional 1,479 shares during the period. Team Hewins LLC acquired a new position in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at $239,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 89.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,532 shares of the company’s stock valued at $1,015,000 after acquiring an additional 6,846 shares during the period. 14.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Down 0.2 %

Shares of Dr. Reddy’s Laboratories stock opened at $79.51 on Wednesday. Dr. Reddy’s Laboratories Limited has a 1 year low of $63.72 and a 1 year high of $84.46. The business has a 50-day moving average of $81.14 and a two-hundred day moving average of $75.63. The company has a market capitalization of $13.27 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The firm had revenue of $919.80 million for the quarter, compared to the consensus estimate of $861.68 million. Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. As a group, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current year.

About Dr. Reddy’s Laboratories

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.