Blue Trust Inc. Boosts Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Blue Trust Inc. grew its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 64.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,447 shares of the company’s stock after acquiring an additional 4,895 shares during the period. Blue Trust Inc.’s holdings in Dr. Reddy’s Laboratories were worth $948,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Dr. Reddy’s Laboratories by 54.7% during the first quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock worth $53,000 after acquiring an additional 255 shares in the last quarter. CWM LLC lifted its position in shares of Dr. Reddy’s Laboratories by 18.9% during the first quarter. CWM LLC now owns 2,584 shares of the company’s stock worth $190,000 after acquiring an additional 410 shares in the last quarter. Wealthstream Advisors Inc. bought a new position in shares of Dr. Reddy’s Laboratories in the second quarter worth $203,000. Legacy Capital Group California Inc. bought a new position in shares of Dr. Reddy’s Laboratories in the second quarter worth $204,000. Finally, Drive Wealth Management LLC bought a new position in shares of Dr. Reddy’s Laboratories in the second quarter worth $206,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Trading Down 0.2 %

Dr. Reddy’s Laboratories stock opened at $79.67 on Monday. The stock has a market cap of $13.30 billion, a P/E ratio of 19.77, a PEG ratio of 1.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $63.72 and a fifty-two week high of $84.46. The firm’s fifty day moving average price is $80.38 and its 200-day moving average price is $76.37.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Saturday, July 27th. The company reported $1.00 EPS 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 business had revenue of $919.80 million for the quarter, compared to the consensus estimate of $861.68 million. Equities research analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current fiscal year.

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.