Healthcare of Ontario Pension Plan Trust Fund Increases Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 318.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,900 shares of the company’s stock after acquiring an additional 283,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Dr. Reddy’s Laboratories were worth $28,411,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories by 2.3% in the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after acquiring an additional 180 shares during the period. Augustine Asset Management Inc. raised its position in Dr. Reddy’s Laboratories by 0.4% in the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock worth $3,857,000 after purchasing an additional 181 shares during the period. Lester Murray Antman dba SimplyRich lifted its stake in Dr. Reddy’s Laboratories by 3.1% in the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock worth $470,000 after purchasing an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Dr. Reddy’s Laboratories by 1.6% during the first quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock valued at $1,065,000 after buying an additional 232 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Dr. Reddy’s Laboratories by 2.4% during the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after buying an additional 251 shares during the period. 14.02% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Stock Up 0.4 %

Shares of RDY opened at $79.57 on Friday. The firm has a market capitalization of $13.28 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.75 and a beta of 0.55. Dr. Reddy’s Laboratories Limited has a 12-month low of $63.72 and a 12-month high of $84.46. The firm has a fifty day moving average price of $81.17 and a 200-day moving average price of $75.92. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02.

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

Wall Street Analysts Forecast Growth

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

Dr. Reddy’s Laboratories Company 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.