Parallel Advisors LLC Acquires 1,470 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Parallel Advisors LLC raised its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 13.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,422 shares of the company’s stock after acquiring an additional 1,470 shares during the quarter. Parallel Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 2.3% during the 2nd quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock worth $603,000 after buying an additional 180 shares during the period. Augustine Asset Management Inc. lifted its position in Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock worth $3,857,000 after acquiring an additional 181 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its holdings in Dr. Reddy’s Laboratories by 3.1% during the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock valued at $470,000 after acquiring an additional 184 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in 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 acquiring an additional 232 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in shares of Dr. Reddy’s Laboratories by 2.4% in the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Trading Down 1.0 %

Shares of Dr. Reddy’s Laboratories stock opened at $79.60 on Tuesday. Dr. Reddy’s Laboratories Limited has a 1 year low of $63.72 and a 1 year high of $84.46. The company’s fifty day simple moving average is $81.10 and its 200-day simple moving average is $75.61. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.74 and a beta of 0.55. 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 posted its quarterly earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.10). The company had revenue of $919.80 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price objective 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.

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.